– U.S. Senator Benjamin L. Cardin (D-MD) today joined President Obama at the White House as he signed the bipartisan
Hiring Incentives to Restore Employment Act (HIRE Act) into law.
“I was proud to join President Obama today in the White House Rose Garden as he signed into law one of many jobs initiatives designed to encourage new, private-sector hiring and help small businesses in Maryland and across the nation.
The bill signed today, the HIRE Act, extends investments in our transportation infrastructure that alone will save or create one million new jobs. The bill also lowers the cost of borrowing for Maryland and other state governments.
My top priority has long been to make it easier for small businesses to get the tools they need to need to survive and thrive.
This new law will help small companies expand with more generous expensing rules, as well as reward those willing to hire unemployed workers. I
applaud the inclusion of the Schumer-Hatch provisions exempting employers from payroll taxes for new hires
to create quality incentives for job growth. I had offered a similar provision, using a tax credit targeted at small firms with less than 25 employees, in a bill I introduced earlier this year, S. 2967,
The Boosting Entrepreneurship and New Jobs Act.
“Many American families are still hurting and there is more to do, but today is an important step forward as we continue to help jumpstart our economy, creating and saving jobs for Americans who desperately want to get back to work.”