Thursday, November 10, 2011

Update on H.R. 674 (Repeal the 3% Withholding on US Government Contracts)

Earlier today the Senate unanimously passed (95 - 0) this bill to repeal the 3% withholding on US Government Contracts (see my post below providing more background).  The House did pass the bill on October 27th however since the Senate inserted an amendment to the bill (which included a provision for tax credits to employers hiring unemployed veterans) it now needs to go back to the House for approval of the bill as amended.  

After the House approves the amended bill it needs to go to the White House for signature.  Approval by the White House is expected and this repeal seems very likely to come to fruition at this point.

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