Legislation will create more jobs and strengthen economy
Organizing for America (OFA)-New Hampshire Director Tim Arsenault today released the following statement on President Obama’s signing of the Hiring Incentives to Restore Employment (HIRE) Act, a bill that will fuel job growth and strengthen the economy by encouraging businesses to hire new workers and invest in their companies and communities:
“President Obama’s signing of the bipartisan HIRE Act, a bill that will help create more jobs and strengthen our nation’s economy, is another critical part of the President’s plan to turn our economy around. While there is still more work to do, Granite Staters and all Americans should be proud of the progress President Obama and Congress have made in bringing our economy back from the brink of collapse.
“Thanks to President Obama’s leadership, our economy is growing again and we are no longer on the verge of a depression. But those economic statistics are cold comfort to the millions of Americans still looking for work. That is why President Obama and Congress have been working tirelessly to encourage job creation in our nation’s private sector, the engine of our economy.
“The HIRE Act signed today is just one of several job-creating measures that President Obama has championed to help get Americans back to work. The tax breaks and other provisions this bill provides to businesses will help encourage the creation of new jobs. Right now Americans need jobs, and this bill will go a long way in accomplishing that goal. I want to thank President Obama and Congress for their bold and decisive actions to address our nation’s struggling economy.”
The HIRE Act:
1. Forgives payroll taxes on new employees hired by businesses by the end of the year in cases where the employee has been out of work for at least the past two months.
2. Allowing small businesses to write off investments in equipment this year.
3. Reform municipal bonds in a way that encourages investments in schools and clean energy.
4. Maintain investments in construction projects throughout the spring and summer.