The U.S. Senate voted Wednesday to pass the Hiring Incentives to Restore Employment (HIRE) Act by a margin of 68-29. Eleven (11) Republicans joined 57 Democrats in voting for the $17 billion jobs bill which has as its centerpiece, tax cuts for businesses, cuts costs for small businesses and invests in the nation’s infrastructure.
“The bipartisan support that this bill has received is a signal that Republicans will support our jobs agenda to strengthen our economy and create jobs,” Senate Majority Leader, Harry Reid said after the bill cleared the Senate. He said today’s vote was vital, as more than one million job will be saved or created by the bill.
While Democrats and some Republicans hailed the passage of the jobs bill, critics have suggested that it falls far short of what is required to boost the economy and bring down the unemployment rate in any meaningful way.
President Obama is expected to sign the jobs bill tomorrow, March 18th.
