Congresswoman Shelley Berkley today voted in favor of H.R. 2847, the Hiring Incentives to Restore Employment (HIRE) Act. The legislation was approved on a vote of 217 to 201.
"Providing a payroll tax holiday for businesses will encourage the hiring of new workers and the $1,000 income tax credit will mean employees stay on the job. Small businesses that receive these incentives will expand, and that will mean the need to hire more workers. This legislation also extends the Highway Trust Fund and makes it easier for Nevada and other states to borrow for school construction, energy projects and other infrastructure investments," said Berkley.
Berkley spoke this afternoon from the House floor in support of the bill's passage. Video of Berkley's remarks can be viewed at: http://www.youtube.com/watch?v=iw6SDEfAjwY.
"Nevada is experiencing unprecedented economic challenges and an unemployment rate of well over 13%. It is essential that this Congress pursue policies and programs that will spur long term economic growth and create the jobs that the people of Las Vegas and across the U.S so desperately need," she said. "This legislation is a positive step in that direction. Incentives such as the payroll tax holiday, a tax credit for retaining workers, and the extension of enhanced expensing for small businesses will all help create conditions for increased hiring and retention of new employees. In addition, the extension for funding for highways and other surface transportation projects will provide employment both today and in the future by continuing the infrastructure investments that are critical to long term economic growth. And finally, the direct payment option for certain tax credit bond programs will enable the Clark County School District -- which I represent -- to increase school construction and continue to fund essential projects. Nevada and the nation need the jobs and other support provided by this bill," said Berkley.
The HIRE Act includes a payroll tax holiday for businesses that hire unemployed workers and an income tax credit of $1,000 for businesses that retain these employees. It also 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.