The House Ways and Means Committee voted on October 13, 2011 to repeal the 3% withholding tax on payments made to contractors, consultants, and vendors by federal, state, and local agencies with annual expenditures of $100 million or more.
The measure, H.R. 674, will go to the full House in the next couple of weeks for a vote.
Unless repealed by Congress, the law will go into effect on January 1, 2013.
Mike Purdy's Public Contracting Blog© 2011 by Michael E. Purdy Associates, LLChttp://PublicContracting.blogspot.com
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