#2010 Jobs#Job Creation#President Obama#Stimulus

President Obama to sign jobs bill into law

|Mar 24|magazine3 min read

President Obama emitted a sense of urgency when it comes to job creation this past January in his State of the Union speech. It was one of his vows that this would not continue to be a jobless recovery.

This Thursday, he took the first step in fulfilling that promise by signing into law a $17.6 billion bill aimed at creating jobs. The bill was passed by the Senate by a vote of 68-29, and it has a number of provisions that will hopefully spur job creation.

Among these provisions are: $1,000 credit if workers stay on a full year and it exempts businesses hiring the unemployed from the 6.2 percent Social Security payroll tax through December. It also extends highway and mass transit programs through the end of the year and pumps in $20 billion in time for spring construction projects.

"A consensus is forming that, partly because of the necessary -- and often unpopular - measures we took over the past year, our economy is 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 this process," said Obama

Edited by Kevin Doyle