WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the Senate passed the Hiring Incentives to Restore Employment (HIRE) Act. This job creating legislation will now go to the President’s desk.
“I applaud the Senate’s passage of the HIRE Act, a much-needed piece of jobs legislation that now goes to President Obama’s desk for a signature. The HIRE Act includes tax credits for businesses that hire and retain unemployed workers—one of the most effective ways to promote job creation, according to the nonpartisan Congressional Budget Office. It also includes tax incentives to help businesses finance their expansion, as well as an extension of the highway construction programs that have created jobs for so many Americans while expanding our infrastructure.
“Though passage of this bill is an important step for our constituents who remain out of work, it does not complete Congress’s job-creating efforts. Today, the House Ways and Means Committee is considering further legislation to encourage investment in growing small businesses by exempting their stock from capital gains taxes, to encourage entrepreneurship by doubling the tax deduction for small-business start-up costs, and to extend the successful Build America Bonds, which help state and local governments finance much-needed, job-creating projects. I look forward to bringing this legislation to the House floor as early as next week.”