President Barack Obama signed a jobs bill into law this week. The law will help funnel cash toward infrastructure and transportation projects, which might be enough to juice up several exchange traded funds (ETFs).
The measure is intended to put people back to work and shed some light on the employment situation. Michael D. Shear for The Washington Post reports that the timing of the bill is strategic in that the bill should have created more jobs before mid-term elections in the fall. [Health Care ETFs for an Uncertain Outcome.]
The reform is aimed at bringing in a $1.3 trillion in deficit reduction over the next two decades. The jobs bill will also encourage businesses to hire and help put Americans back to work by giving tax breaks to those who hire unemployed workers. [5 ETFs to Play Obama’s Clean Tech Budget.]
A few of the ETFs that could get a push from the new law include:
- iShares Dow Jones Transportation Average (NYSEArca: IYT)
- Market Vectors Steel (NYSEArca: SLX)