March 18,2010

Baucus Lauds Signing of Bill to Create Jobs

Job-creation tax cuts, infrastructure investments in HIRE Act become law

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) applauded President Obama’s signing of tax cuts and infrastructure investments designed to create good-paying American jobs.  The job-creation tax cuts signed into law today were originally proposed as part of a package authored by Baucus and Finance Committee Ranking Member Chuck Grassley (R-Iowa) in February.

“The HIRE Act becoming law today represents a critical victory in our fight to get Americans back to work, and we will continue working to create good-paying American jobs this year,”  Baucus said.  “The HIRE Act will begin getting Americans back to work right away by creating jobs to rebuild our country’s infrastructure and providing tax cuts for businesses to hire new workers.  In Montana and across the country, many folks want to work but can’t find employment, so we must do everything we can to continue to create good-paying jobs.”

The Hiring Incentives to Restore Employment (HIRE) Act, H.R. 2847, passed the Senate February 24, and was sent to the House of Representatives.  The House modified and passed the bill March 4, and sent it back to the Senate.  The Senate passed the HIRE Act as modified with a bipartisan vote of 68 to 29 March 17, and the bill was signed into law today. 

The final bill, estimated to cost $17.6 billion, is fully offset and reduces the deficit by nearly $1 billion.

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