Bill to repeal 3% withholding is "imminent," says House panel chairman

10/12/2011 | Bloomberg

A bill to repeal the 3% withholding tax on government contracts will be offset so that it does not increase the budget deficit, according to House Ways and Means Committee Chairman Dave Camp, R-Mich. The Associated General Contractors of America and the U.S. Chamber of Commerce have been lobbying Congress for the law's repeal, citing the burdensome administrative tasks related to tax law compliance.

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