WASHINGTON, DC-House Majority Whip James E. Clyburn today released the following statement after President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act into law. The initiative is expected to create thousands of well paying jobs and was passed by the House of Representatives and Senate earlier this month:

“The bill signed into law today as part of an economic agenda that will spur job creation and expedite our economy’s recovery. I’m please we were able to move quickly on this essential legislation.

“The HIRE Act includes tax credits for business that hire and retain new employees. It allocates funds for job-creating projects like road, bridge and tunnel construction. Existing job creation programs that benefit American businesses will be extended.

“This is just one more step in Congress’s ongoing efforts to provide hardworking Americans the jobs they deserve. Since the passage of the Recovery Act last year, Congress has continued to move legislation aimed at creating employment opportunities. Right now the Ways and Means Committee is considering a proposal that promotes small businesses by providing them a series of tax exemptions. We will work tirelessly to ensure that our economy recovers and Americans find the well paying jobs.”