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Proposed Tax Incentive For Hiring Veterans

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The proposal calls for a tax credit for businesses that hire veterans. The overall cost of the proposal is still in the works, but lawmakers envision businesses receiving a tax credit of $3,000 for hiring a disabled vet, $1,500 for hiring an unemployed veteran and $500 for hiring any veteran. Beyond the Yellow Ribbon Secretary for Watonwan County Joe McCabe says if utilized businesses would not only receive an economic gain, but an excellent employee. McCabe says, "They're going to end up with a veteran male or female that is very dedicated and very willing to work for them."

Introduced on Monday, the bill is receiving support from both parties and numerous veteran advocacy groups. The unemployment rate for Minnesota veterans who have served since 2001 is currently 23 percent.