Obama enacts Hire Act

President Obama on Thursday signed into law the $17 billion HIRE Act that passed Congress on Wednesday. 

The legislation gives tax incentives to businesses to hire and keep workers on the books. It also allows them to write off capital expenses. 

In addition, it extends Build America Bonds.

The HIRE Act was the first in a series of jobs bills that Congress looks to enact. Currently, the House is examining legislation that extends several expired tax breaks that recently passed the Senate.