Washington, March 18: President Barack Obama has signed into law a package of tax breaks and spending designed to give the US a jobs boost.
In a White House ceremony, Obama said the legislation will help the private sector start hiring again.
It is the first of several jobs measures promised by Democrats in this election year. Obama called it essential but “but by no means enough.”
The legislation includes about USD 18 billion in tax breaks and USD 20 billion into highway and transit programs.
There is scepticism that the law will do much to actually create jobs. Optimistic estimates predict the tax break could generate perhaps 250,000 jobs through the end of 2010, but that would be just a sliver of the 8.4 million jobs lost since the start of the recession.
–Agencies