Franklin D. Roosevelt took office as President of the United States in March 1933. Convinced that massive federal spending on public works was essential not only to "prime the pump" of the economy but also to cut unemployment, Roosevelt proposed passage of the National Industrial Recovery Act. The act contained $6 billion in public works spending. The act passed on June 13, 1933, and Roosevelt signed it into law on June 16. The Public Works Administration (PWA) was immediately established to disburse the funds appropriated by the act.