The Hiring Incentives to Restore Employment (HIRE) Act has been passed by Congress and awaits the President's signature.  The HIRE Act encourages companies to hire (and retain) unemployed workers by creating an employer "payroll tax holiday" of sorts for hiring unemployed workers in 2010 and an employer tax credit if these new hires are retained for at least one year.  The Act increases expensing for 2010 and permits bond issues to elect to receive a payment in lieu of providing a tax credit to the bondholders.  The Act also contains new anti-offshore tax abuse measures, and other revenue raising provisions.  Below is a summary of the domestic portions of the Act.