The House of Representatives on Thursday narrowly passed a $15 billion jobs bill that will provide tax breaks and provide bonds to fund construction projects.

The House passed the bill with a vote of 217 to 201. The Senate, which has already passed a similar bill, will need to hold another vote before President Obama can sign it into law.

Ahead of the vote, House Speaker Nancy Pelosi called the bill one key element of our agenda to create jobs and strengthen the economy.

The Hire Act as the bill is called, would provide payroll tax credits to businesses that employ new workers who have been unemployed for at least two months.

The measure would also boost bond subsidies for struggling states. Funds be provided for the hiring of workers for road and bridge construction.

Pelosi said the bill would create 300,000 jobs with the tax credit provision alone, and up to 1 million jobs total with help of the bonds measure.