Monday, November 28, 2011

President Obama Signs Bill Eliminating 3% Withholding Tax

On November 21, 2011, President Obama signed a measure that repeals a 2006 law tax withholding law.

The president's action caps years of controversy and delays over the implementation of a law that would have required federal, state, and local agencies to withhold 3% of  payments to vendors, contractors, and consultants.

The bill recently passed both the House and Senate with overwhelming bipartisan support. 
Mike Purdy's Public Contracting Blog 
© 2011 by Michael E. Purdy Associates, LLC 
http://PublicContracting.blogspot.com

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