President signs jobs bill, extending Highway Trust Fund

Today, President Obama signed the HIRE Act. This bill offers businesses a number of incentives to hire new workers and extends the Highway Trust Fund so states can continue creating and sustaining transportation construction jobs.

From payroll tax exemptions to new depreciation rules to tax credits, this bill is one more tool to continue fueling economic recovery.

And, as the President said in his remarks, that recovery is getting legs:

"A consensus is forming that, partly because of the necessary--and often unpopular--measures we took over the past year, our economy is now growing again and we may soon be adding jobs instead of losing them.  The jobs bill I’m signing today is intended to help accelerate that process."

One proven way to create good jobs in America is to build and maintain transportation infrastructure. By also authorizing the Highway Trust Fund through the end of 2010, this bill guarantees that states will be able to continue doing just that.

The year-end extension means transportation projects employing thousands of workers can continue without the threat of disruption by furlough episodes like the one we experienced only two weeks ago.

It also means states can plan for a more reliable funding future, allowing needed projects to continue advancing through the pipeline from idea to reality.

But despite the benefits of the bill President Obama signed today, this Administration is absolutely not resting when it comes to creating more jobs. The President made that clear:

"Now, make no mistake: While this jobs bill is absolutely necessary, it’s by no means enough. There’s a lot more that we’re going to need to do to spur hiring in the private sector and bring about full economic recovery--from helping creditworthy small businesses to get loans that 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 that America needs done."

I couldn't agree more, and DOT stands ready to do its part.

Comments

[Bill Badrick]

We have a great infrastructure project on-going here in Portland that needs the help of the Secretary and the President! The CRC Multi-Modal Bridge will connect Mexico to Canada.
Below is a link to my proposal to add a Park-Roof to it.
The Park-Roof will pay for itself by replacing the expensive stormwater treatment facility required for the bridgeto save salmon. The Park-Roof will create needed recreation spaces for the working class neighborhoods
on both sides of the river , and will show the Vision
that this Administration has for Great Design.

http://urbangreens.tumblr.com/tagged/Bill%20Badrick

[Justin]

This is a great way to directly apply funding to creating jobs.

[annettemd]

I think the signing the HIRE Act is a critical step not only in strengthening transportation infrastructure, but in rebuilding quality jobs and opportunities for American workers. Also, the Highway Trust Fund will ensure states can continue to boost employment and state productivity.

However, is this action just a temporary solution for a seemingly perpetual problem? How does the Act propose to promote worker retention among businesses and employers?

[Wm Osborne]

What would be the economic and environmental impact IF each of these people had easy choice to use Transit, Vanpools or Carpools for their commute?

[Bill]

I like to urge Obama to continue with good work of creating employment.Thats what we need.

[Michael E. Bailey]

This is wonderful news and comes at the right time, too. The ARRA was the engine that kept the economy going through the worst period it had in 80 years and the Jobs bill the President signed will build on the ARRA. It is only a few in Congress and a few conservative organization leaders that don't like it but they have lots more money than members and can make a big noise. Journalism is not as good today as it once ways and too many people are too easily swayed by what they hear on Fox News or radio talk shows that seem more entertainment programs than real news. Best wishes, Michael E. Bailey.

[Texas Electricity]

Building new infrastructure for our country is one of the biggest challenges we have right now. I look forward to the new jobs this will help create for many Americans.

[jewelry reviews]

The ARRA was the engine that kept the economy going through the worst period it had in 80 years and the Jobs bill the President signed will build on the ARRA.