Rep. Gene Green (TX-29) voted in favor of creating hundreds of thousands of new jobs this year. The bipartisan bill, H.R. 2847 the Hiring Incentives to Restore Employment (HIRE) Act, passed in the House today.
Included in the bill is a payroll tax holiday for business that hire unemployed workers, an income tax credit of $1,000 for businesses that retain these employees, and tax cuts to spur new investment by small businesses to invest, expand, and hire workers. It also includes extension of the Highway Trust Fund for billions of dollars in infrastructure investment, and provisions to make it easier for states to borrow for infrastructure projects, such as school construction and energy.
"My priority is getting the unemployed of our area back to work without leaving a huge bill for the next generation," said Rep. Green. "This bipartisan bill continues our ongoing efforts to create jobs and get our economy back to where it needs to be."
The HIRE Act passed the Senate last week and passed in the House after some modest changes were made to ensure the bill is fully paid for, ensure that small businesses can take advantage of the payroll tax holiday, increase the bond subsidy for cash-strapped states, and continue requirements ensuring a portion of the highway and transit funding goes to minority-owned businesses.
"We need to get as many Americans back to work as quickly as possible and this bill is a move to that goal," Rep. Green continued. "The HIRE Act makes key investments in small business and infrastructure development to create new jobs and get the people of our area working."