Today, Congressman Joe Baca (D-Rialto) voted to create hundreds of thousands of new small business and construction jobs this year, spur private sector hiring, and help rebuild our crumbling infrastructure. H.R. 2847, the bipartisan Hiring Incentives to Restore Employment (HIRE) Act, is part of a larger Congressional agenda to create jobs and strengthen our economy, and passed the House with a 217 to 201 vote.
"With unemployment in the Inland Empire at 14%, Congress' top priority must be putting more Americans back to work," said Rep. Baca. "Today's legislation will help us create hundreds of thousands of jobs this year, and it's fully paid for to make sure that we do not leave the bill for these investments for the next generation."
The HIRE Act includes a payroll tax holiday for businesses that hire unemployed workers, which will help to create an estimated 300,000 jobs. The legislation also calls for an income tax credit of $1,000 for businesses that retain these employees. In addition, it includes tax cuts to help small businesses invest, expand, and hire more workers, provisions to make it easier for states to take up infrastructure projects such as school construction and energy retrofitting, and an extension of the Highway Trust Fund that allows for billions of dollars in infrastructure development around the country.
"The HIRE Act builds on the progress we have made with the Recovery Act, and continues efforts to create new jobs and secure our future economic growth," added Rep. Baca. "I am committed to working with my colleagues on measures that will put Americans back to work this year."
According to the non-partisan Congressional Budget Office, the Recovery Act has already saved or created over 2 million jobs, and provided over 95% of working families with one of the largest tax cuts in history. In addition, the 43rd Congressional District has been awarded over $570 million in Recovery Act Funding. Congressman Baca is the only Member of the Inland Empire Congressional Delegation who voted in support of the Recovery Act.
"During these tough economic times, we have a moral imperative to help put struggling Americans back to work," concluded Rep. Baca. "I will continue to fight for additional resources to strengthen job creation and training programs. We cannot rest until every hard working American has an opportunity for economic success."