President Obama Signs the HIRE Act Jobs Bill

Posted by: Audiegrl

Surrounded by members of Congress, President Barack Obama signs the Hire Act during a ceremony in the Rose Garden at the White House on March 18, 2010 in Washington, DC. The HIRE Act will offer a payroll tax break for businesses that hire unemployed workers and will offer businesses an income tax credit of $1,000 for retaining these employees. (Photo by Mark Wilson/Getty Images North America)

USAToday~Acknowledging that government alone can’t solve the nation’s job crisis, President Obama just signed a new $18 billion jobs bill designed to spur hiring by giving tax breaks to small businesses. The bill also includes $20 billion for highway and transit programs.

While this jobs bill is absolutely necessary, it is by no means enough,” Obama said during a sunny Rose Garden bill signing ceremony. “There is a lot more we need to do to spur hiring in the private sector and bring about a full economic recovery; from helping creditworthy small businesses get the loans they need to expand, to offering incentives to make homes and businesses more energy-efficient, to investing in infrastructure so we can put Americans to work doing the work America needs done.”

Obama also urged lawmakers to consider a new estimate from the Congressional Budget Office that the health-care legislation will reduce the federal deficit by $130 billion in the first decade and $1.2 trillion in the next. He said it represented the “most significant effort to reduce the deficit” since the Balanced Budget Act.

I urge every member of Congress to consider this as they prepare for their very important vote this weekend,” Obama said.

More @ USA Today

Full Remarks by President Obama

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