State Rep. Mary Cavanagh (D-Redford Twp.) introduced House Bill 4221 this week to incentivize Michigan employers to hire unemployed veterans. The legislation would allow eligible businesses with less than 50 full-time employees to receive a $1,000 tax credit for each unemployed veteran hired during the tax year.
Due to the ongoing COVID-19 pandemic and its associated economic impacts, unemployment rates have fluctuated significantly and placed many Americans and Michiganders under financial strain through no fault of their own. Already vulnerable populations have been hit especially hard by unemployment, including veterans; the number of unemployed veterans climbed to more than 552,000 nation-wide during the last quarter of 2020.
“It’s no secret that veterans often face immense challenges when transitioning back to civilian life, and the ongoing COVID-19 pandemic has only exacerbated this reality for far too many,” said Cavanagh. “Thousands across our state continue to struggle to provide for their families. We must do all we can to ensure we are properly supporting some of our most vulnerable community members, including those who have put their lives on the line for our country.”
This legislation serves as a reintroduction of HB 5233 of 2019, previously sponsored during the 2019-2020 term by former state Rep. Robert Wittenberg. HB 4221 was referred to the House Committee on Tax Policy for further consideration.