Washington is home to more than 340,000 working-age veterans. And fortunately for us, our community has the largest number of working-age veterans in the state.
However, our state has a higher veteran unemployment rate than the rest of the nation. That’s why I authored legislation that created the first-ever, statewide tax credit for employers that hire unemployed veterans. (SB 5042)
The tax credit takes effect this year, beginning October 1st.
Our goal is encourage employers to hire vets to reduce the number of unemployed veterans by at least 30% using this powerful employer incentive.
The credit is equal to 20% of the employee’s wages and benefits. To be eligible, the employee must have been an honorably discharged veteran who has been unemployed for more than 30 days and the employer must hire the veteran into a full-time position for at least six months.
Please help us inform veterans and their prospective employers of this new program. We owe a bright future to those who sacrificed so much for us.