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Obama Signs Law Granting Tax Credits for Hiring Jobless Vets

President Barack Obama signed into law a measure that provides tax credits to companies that hire unemployed veterans and repeals a requirement that federal, state and local governments begin withholding 3 percent of payments to contractors in 2013.

Obama, at a ceremony for the signing, said about 1 million veterans will be entering the civilian workforce over the next five years as the war in Iraq winds down. He said businesses recognize that the work experience they gain while in the service are valuable to private enterprise.