Maloney hails passage of jobs bill

Mar 4, 2010
Press Release
WASHINGTON, DC –Rep. Carolyn Maloney (D-NY) today voted to create hundreds of thousands of new small business and construction jobs this year, spur private sector hiring, and help rebuild crumbling infrastructure. The bipartisan Hiring Incentives to Restore Employment (HIRE) Act is part of a larger Congressional agenda to create jobs and strengthen the economy.  “Putting New Yorkers and all Americans back to work is the number one priority,” said Rep. Maloney. “This legislation will help us create hundreds of thousands of jobs this year. I’m especially proud that this bill includes a scaled down version of my employer tax credit proposal.”

The HIRE Act includes a payroll tax holiday for businesses that hire unemployed workers, to create some 300,000 jobs, 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.

“This builds on last year’s Recovery Act and other ongoing efforts to create jobs and put the economy on sound footing,” said Maloney. “We need to get as many Americans back to work as quickly as possible. And we need to do it in a way that gives middle-class families a chance to succeed again. This bill is an important step in those efforts.”

The Recovery Act has already saved or created over 2 million jobs – rebuilding our infrastructure and economy for global competitiveness. Through the Recovery Act, 95% of working Americans continue to see the benefit of one of the largest tax cuts in history in every paycheck. The House also passed the comprehensive Jobs for Main Street Act to make targeted investments in areas that will grow our economy over the long term – including highways, public transit, construction, small businesses, job training, and hiring and retaining teachers, police officers, and firefighters.