Obama Signs HIRE Act

Obama Signs HIRE Act

President Obama on Thursday signed into law a jobs bill that extends highway programs through the end of the next fiscal year.

The Hiring Incentives to Restore Employment (HIRE) Act extends the existing highway spending program and transfers nearly $20 billion from the general fund to keep the Highway Trust Fund solvent through the end of fiscal 2011. The bill also extends the Build America Bonds program.

The president said the bill “will maintain crucial investments in our roads and our bridges as we head into the spring and summer months, when construction jobs are picking up.”

In connection with the jobs bill, Vice President Joe Biden announced that the 10,000th transportation infrastructure project funded by American Recovery and Reinvestment Act funds is now under way.

Contact R.G. Edmonson at bedmonson@joc.com.