The U.S. Senate on Thursday overwhelmingly approved a measure that will provide retraining for veterans seeking jobs, and tax breaks to businesses that hire them.

The approval marks the first element of President Barack Obama’s failed American Jobs Act that appears poised to become law. Obama, who is set to arrive in Hawaii on Friday, praised the Senate action in a statement released by the White House. 

“No veteran who fought for our nation should have to fight for a job when they come home, and I urge the House to pass these tax credits as well so I can sign them into law,” Obama’s statement said. “I also urge Congress to pass additional jobs proposals in the weeks ahead to help the millions of other Americans who are still looking for work.”

UPDATED 11/10/11, 6:07 p.m. Sen. Daniel Akaka, a WWII veteran and a cosponsor of the bill, issued this statement about its Senate passage: 

“I would not in the U.S. Senate today without the lessons I learned while serving and the opportunities I had when I returned home, such as the GI Bill and my first job after college as a teacher.”