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President Barack Obama will outline a new initiative Friday that aims to help former members of the military find private sector jobs, part of a renewed job creation effort focusing on unemployed veterans.

In a speech at the Washington Navy Yard, the president is expected to lay out a series of reforms that his administration is pledging will better prepare service members for the civilian work force and encourage employers to hire recent veterans.

Among the president’s proposals will be a “Returning Heroes and Wounded Warrior Tax Credit,” which would provide businesses that hire veterans a tax break, varying in size depending on how long the newly-hired veteran has been unemployed and whether he or she has a disability.

At minimum in the president’s proposal includes a $2,400 credit for hiring a short-term unemployed veteran while a $9,600 credit would be available for hiring a long-term unemployed and disabled veteran.

Source: Alexander Mooney for CNN.

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