The House of Representatives passed the bill late Tuesday night after the Senate approved it.
The new law preserves the Bush-era tax cuts for individuals earning less than 400-thousand dollars and extends unemployment benefits.
The president is in Hawaii vacationing with his family.
A senior administration officials says a copy of the bill was sent to him for review and he signed the bill using the autopen.
That's a tool that exactly mimics the president's signature.
It's more commonly used to sign Christmas cards but the 2011 extension of the Patriot Act marked the first time the Obama administration ever used the unique device for signing a law.