President Signs the HIRE Act

United States Department of Labor

On Thursday, President Obama signed the HIRE Act — a jobs bill that will encourage businesses to hire and help put Americans back to work.

"I'm signing it mindful that, as I've said before, the solution to our economic problems will not come from government alone,” said President Obama. "But what we can do is promote a strong, dynamic private sector — the true engine of job creation in our economy. We can help to provide an impetus for America's businesses to start hiring again.”

The new law will make a difference in several important ways, including forgiving payroll taxes for businesses that hire someone who's been out of work at least two months; permitting small businesses to write off investments they make in equipment this year; reforming municipal bonds to encourage job creation by expanding investment in schools and clean energy projects; and maintaining investments in our infrastructure.

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