WISCREPORT.COM (03/24/2010) - Now that President Obama has signed the Senate Health Reform Bill into law thanks to the approval of the House of Representatives, the House is moving on to boosting the economy. The House has passed two job creation and small business bills: the Small Business and Infrastructure Jobs Act and the Disaster Relief and Summer Jobs Act. It is hoped this will help businesses cope with the effects of the economy and create more jobs to get the economy moving in a positive direction.
"Today, the House made more progress on two crucial building blocks of our economic recovery: creating jobs, the source of stability and a steady paycheck for America's families; and supporting small businesses, the engine of America's prosperity," said House Speaker Nancy Pelosi.
The Small Business and Infrastructure Jobs Act will extend the Build America Bonds created by the Recovery Act, and is expected to make it less expensive for state and local governments to rebuild schools, hospitals, roads, bridges, and rail lines.
"This legislation will spur investment in small businesses and provide tax incentives to entrepreneurs who take risks and start a new business," Pelosi pointed out.
"And it will provide aid to employers who hire unemployed workers, extending an initiative already on-track to put more than 160,000 Americans back to work," Pelosi continued.
The House has also passed the Disaster Relief and Summer Jobs Act. This bill is designed to ensure that U.S. communities have the means to prepare for unexpected emergencies and recover from natural disasters.
"It invests in our most precious resource, our next generation, supporting more than 300,000 summer jobs for young people across the country and setting them on a path of personal and professional success," Speaker Pelosi said.
"It makes small business loans more available through an initiative that has already created or saved more than 560,000 jobs for our workers," Pelosi added.
"We are building on the Recovery Act, on track to save or create 3.5 million jobs, and the health insurance reform President Obama signed into law this week, which promises to create up to 4 million more jobs over the next decade," Pelosi explained.
"This Congress will continue our work to restore jobs and build a strong new foundation for America's economy," Pelosi stated.