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Snap Fact #122

In 2010 President Obama Backed And Passed the HIRE Act Which Contributed To The Economic Recovery!
March 18, 2010, President Obama signed the HIRE Act, a $17.5 billion jobs bill, to stimulate the economic recovery. A specific feature of the legislation includes tax cuts for small businesses who hire someone who has been unemployed for at least two months. 

Additionally, small businesses can also write off their investments in equipment beginning in 2012. The act also provides $20 billion for the Highway Trust Fund in order to improve highway and transit programs so that more jobs can be created while the countries infrastructure will be improved at the same time. 

The President spoke realistically upon signing the bill. He alerted us that this was merely a first step in the path to the vibrantly strong economy that we all want. "Now, make no mistake: while this jobs bill is absolutely necessary, it is by no means enough," said the President.