US Congress approves USD 18 bn jobs stimulus package

Washington, March 18: The US Congress Wednesday approved a nearly USD 18-billion package of incentives to revive the struggling US labour market.

The Senate approved the HIRE Act by 68-29, sending the measure to President Barack Obama for signature after months of wrangling. The House of Representatives passed the bill earlier this month.

"It is the first of what I hope will be a series of jobs packages that help to continue to put people back to work all across America," Obama said after a meeting with Irish Prime Minister Brian Cowen.

The US unemployment rate stood at 9.7 percent in February, near a quarter-century high, even as the world's largest economy has begun growing again after a deep recession.

The high jobless rate has put pressure on Obama and his fellow Democrats to take further steps to encourage hiring. The package approved Wednesday includes tax credits for small businesses that hire workers and extends infrastructure spending.