Bill Overview
Title: Hire Student Veterans Act
Description: This bill expands the work opportunity tax credit to allows employers a credit for hiring veterans who are receiving educational assistance under programs provided by the Department of Defense or the Department of Veterans Affairs.
Sponsors: Rep. Lee, Susie [D-NV-3]
Target Audience
Population: student veterans receiving educational assistance
Estimated Size: 700000
- The bill pertains specifically to student veterans, who are individuals that have served in the military and are currently receiving educational assistance from the Department of Defense or the Department of Veterans Affairs.
- Student veterans form a subset of the broader veteran population, as not all veterans are engaged in educational programs at any given time.
- There are approximately 19 million veterans in the United States, but not all are students.
- Data from the Department of Veterans Affairs indicates that hundreds of thousands of veterans receive educational benefits in a given year.
Reasoning
- The Hire Student Veterans Act focuses on providing incentives to employers for hiring student veterans. This will primarily affect student veterans seeking employment and businesses that are potential employers.
- Student veterans should see a potential improvement in employment prospects, and possibly their financial situation, leading to improved wellbeing.
- Employers benefit from the tax credit, which reduces hiring costs associated with hiring qualified student veterans.
- Given the budget constraints, the impact may be concentrated on certain geographical regions or industries with high veteran enrollment.
- Not every student veteran will be employed under this policy, given the budget limits and the number of eligible veterans.
Simulated Interviews
Student (San Diego, CA)
Age: 24 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 15/20
Statement of Opinion:
- I am hopeful that this policy would make it easier for me to find a relevant part-time job while studying.
- Having some real-world experience would really help complement my studies and improve my job prospects after graduation.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Part-time worker (Houston, TX)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- As a single parent, any help I can get is crucial, especially related to employment.
- The policy seems promising if it leads to actual job offers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 7 | 7 |
Student (Seattle, WA)
Age: 32 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I think this policy might help me find better internships which are valuable for career transition.
- The tax credit might encourage employers to give veterans like me a chance.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Unemployed (Dallas, TX)
Age: 38 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 2.0 years
Commonness: 5/20
Statement of Opinion:
- This policy might be a good way for me to demonstrate my value to potential employers.
- I worry about the competition for the jobs available with this program.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Full-time student (New York, NY)
Age: 29 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- I feel optimistic, but I'm not sure if this will lead to long-term employment.
- It seems like a great opportunity for companies to recognize the skills veterans bring.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Intern (Chicago, IL)
Age: 26 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 15/20
Statement of Opinion:
- This could be beneficial in getting my foot in the door with companies after graduation.
- I hope the awareness of the program is widespread amongst both employers and veterans.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Bartender (Raleigh, NC)
Age: 30 | Gender: female
Wellbeing Before Policy: 3
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- I hope this creates some stability in my life, as working solely in the service industry isn't secure.
- The extra income from a new job would help ease my financial stress.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 3 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
Part-time contractor (Orlando, FL)
Age: 35 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- Getting a steady job through this program would greatly help our family.
- This policy might encourage more employers in my field to hire student veterans.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Research assistant (Denver, CO)
Age: 31 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 6/20
Statement of Opinion:
- Having an opportunity for more stable employment while completing my PhD could alleviate some of my financial worries.
- I'm not sure if my specific field will benefit much from the policy.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Cashier (Phoenix, AZ)
Age: 27 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- The policy could help me move into a more stable job, matching my field of study.
- Job hunting as a student is tough, and this could make a real difference.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 6 |
Cost Estimates
Year 1: $200000000 (Low: $150000000, High: $250000000)
Year 2: $220000000 (Low: $170000000, High: $270000000)
Year 3: $240000000 (Low: $190000000, High: $290000000)
Year 5: $280000000 (Low: $230000000, High: $330000000)
Year 10: $320000000 (Low: $270000000, High: $370000000)
Year 100: $600000000 (Low: $550000000, High: $650000000)
Key Considerations
- The effectiveness of the tax credit in encouraging net new hiring of student veterans as opposed to replacing existing employees.
- Administrative ease and awareness of the credit among employers.
- Coordination with existing educational assistance programs for veterans to maximize impact.