Sunday, March 21, 2010

Thurman Applauds President Obama's Signing of Jobs Bill

Earlier today, President Obama signed the HIRE Act, a jobs bill that will encourage businesses to hire workers, provides tax breaks for companies investing in their future, and helps get Americans back to work. In response to the President's signing of this groundbreaking legislation, Florida Democratic Party Chair Karen Thurman released the following statement:

"Today, Floridians are thanking President Obama for signing the Hiring Incentives to Restore Employment (HIRE) Act into law. This legislation builds on the investments made by the President's American Recovery and Reinvestment Act, which is credited with funding up to 2 million jobs in the last year and bringing our economy back from the brink of collapse. At this critical time when our economy is just starting to turn around but too many Americans are still looking for work, this bill creates added incentives for businesses to create jobs and grow their operations. A strong private sector is critical to economic growth and is the engine of job creation in our country.

"The HIRE Act forgives payroll taxes for businesses hiring folks who have been out of work, encourages small businesses to invest in their future and towns in schools and clean energy, and maintains critical infrastructure investments.

"This bill is one of several job-creating measures Democrats are working to pass this year. While some Republicans broke ranks with their party and joined Democrats in supporting this commonsense legislation, we call on Republican leaders to stop their obstruction and work with Democratic leaders to help the middle class and get our economy back on track."

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. Allows small businesses to write off investments in equipment this year.

3. Reforms municipal bonds in a way that encourages investments in schools and clean energy.

4. Maintains investments in construction projects throughout the spring and summer.

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