Bill would provide tax credits for small business owners hiring unemployed veterans 

LANSING, Mich. – Small business owners that hire unemployed veterans could soon be eligible for tax credits under a veterans employment initiative. The Hire MI Heroes Act was recently introduced by Sen. Vincent Gregory (D–Lathrup Village), a U.S. Marine Corps. Corporal and Vietnam War veteran. 

“Unemployment is a very real enemy that our veterans shouldn’t have to face alone,” Sen. Gregory said. “Both veterans and small businesses stand to benefit from this legislation because it will help grow Michigan’s economy while putting our heroes back to work.”

Under Senate Bill 89, Michigan businesses that hire an unemployed veteran would be able to receive a one-time tax credit of 25 percent of a veterans’ compensation, up to $4,000.

According to the U.S. Bureau of Labor Statistics, 495,000 veterans were unemployed in 2015. Michigan veterans face higher unemployment rates than the national average unemployment rate.

“Our military men and women put their lives on the line to defend our freedom,” Sen. Gregory said. “This legislation would help them to secure employment upon returning home and to live the American dream they have fought to protect.”

The bill was referred to the Senate Finance Committee and is currently awaiting consideration.