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Senate ready to repeal 3% withholding on government contracts

Senate ready to repeal 3% withholding on government contracts


By By BD+C Staff | November 10, 2011

The U.S. Senate is set to approve legislation that would eliminate a law requiring federal, state, and local governments to withhold 3% of their payments to contractors and companies doing business with the government. This measure, aimed at thwarting tax cheats, was scheduled to take effect next year.

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