Veterans' Employment Transition Support Act of 2005

Veterans' Employment Transition Support Act of 2005 or the VETS Act of 2005 - Amends the Internal Revenue Code to allow employers a general business tax credit for hiring veterans who served in a combat zone or a hazardous duty area and were honorably discharged from active duty. Sets the amount of such credit at 40 percent of the first-year wages of such veterans and increases the percentage of such credit for disabled veterans based upon their disability ratings.