Repeal of 3% Withholding Passes
The U.S. House of Representatives voted 422-0 on Nov. 16 to unanimously repeal H.R. 674, the 3 percent withholding law on all federal, state and local government contracts.
The bill will be sent to the President to sign into law. President Obama supports repealing the withholding law and is expected to sign it as early as this week.
“Congress demonstrated that when we work together, we can find bipartisan solutions to laws and regulations that stifle job creation,” said House Ways and Means Committee Chairman Dave Camp, R-Mich. “The permanent repeal of the 3 percent withholding law gives employers greater certainty that they will have resources to hire and invest in getting America back to work.”
The MCAA has opposed the withholding and has worked hard to urge Congress to repeal this law. The MCAA would like to thank all of the members who called, wrote, and visited their senators and representatives to help make this significant legislative victory possible.
Many legislative challenges still remain in the months ahead. The MCAA vows to stay on top of these issues and represent the interests of mason contractors in Washington, D.C.