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Legislative bills

Bipartisan Bill Introduced to Support Student Veterans in Job Market

Strategic Insights

— 1 min read

U.S. Senators Jacky Rosen (D-NV) and Jerry Moran (R-KS) have introduced a bill to help more student veterans secure jobs and increase their skills. The bipartisan Hire Student Vets Act aims to incentivize employers to hire student veterans for part-time work and paid internships. This legislation expands the existing Work Opportunity Tax Credit (WOTC) to employers who hire student veterans, providing greater access to valuable paid internships and work opportunities while in school. Nearly 220,000 veterans live in Nevada, and the bill seeks to address the need for more opportunities for these individuals.

Key Takeaways:

  • The Hire Student Vets Act would automatically qualify employers who hire student veterans using their GI Bill benefits for a 40% tax credit on the first $6,000 of a new employee's first-year wages.
  • The bill would reduce the existing tax credit's 400-hour work requirement to 120 hours if a newly-hired employee is a veteran using their GI Bill benefits, allowing student veterans to work part-time while in school.
  • The legislation directly incentivizes employers to hire more student veterans for part-time work and paid internships.
  • Senator Rosen has been actively working to ensure that Nevada's veterans have the federal support they need, introducing multiple bills and securing funding for initiatives that benefit veterans.
  • The Hire Student Vets Act builds on Senator Rosen's previous efforts to support veterans, including introducing a bipartisan bill to cut taxes for veterans who start a small business in underserved communities.
  • Senator Rosen has also helped pass bipartisan legislation to increase veterans' awareness of the VA home loan program and secured funding to increase access to affordable housing for veterans.

Statistics:

  • Nearly 220,000 veterans live in Nevada.
  • 40% tax credit on the first $6,000 of a new employee's first-year wages.
  • Gradual reduction of the 400-hour work requirement from 400 hours to 120 hours for student veterans using their GI Bill benefits.
  • GI Bill benefits are used by thousands of student veterans in Nevada.

Sources:

  • Nevada Senator Jacky Rosen
  • Jerry Moran, U.S. Senator (R-KS)
  • The bipartisan Hire Student Vets Act

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