President Barack Obama signed into law Monday a bipartisan bill that helps jobless veterans get back to work and rewards employers who hire them.

The legislation creates tax breaks to companies that give jobs to unemployed vets. The measure also provides training and counseling to veterans who have been out of work.

Congress unanimously approved the bill last week. The legislation is the first proposal of Obama's $447 billion jobs bill to become law.

"By focusing on areas of agreement -- rather than partisan stimulus bills -- we can pass legislation to help foster job growth," said Senate Minority Leader Mitch McConnell, R-Ky.

"Neither of these measures alone is going to solve the jobs crisis, but they'll provide relief to job creators and help American veterans," he said.

The tax credits for hiring veterans will cost the government an estimated $95 million. The credits would be as much as $9,600 for organizations hiring disabled veterans who've been searching for a job for more than six months.