State budget may give tax credits to hire recent veterans

The state Senate's Independent Democratic Conference says the state budget will include five-figure tax credits to employers to hire recent veterans as a way to reduce the high unemployment rate of service members returning from combat.

IDC spokesman Eric Soufer says conference leader Sen. Jeff Klein, Gov. Andrew Cuomo and other legislative leaders are so far supporting the measure in the budget, which is still being negotiated.

It would provide an employer with a $10,000 tax credit for hiring a veteran who joined the service after the Sept. 11, 2001, terrorist attacks. Hiring a disabled veteran would draw a $15,000 tax credit.

The measure would be part of about $700 million in tax credits announced by Senate Republican leader Dean Skelos.

The IDC and Republicans jointly run the Senate majority.