Obama signs repeal of 3% withholding on government contracts

President Obama signed a bill that repeals a law requiring governments to withhold 3% of payments over $10,000 to contractors.

December 01, 2011 |
Obama 3% taxes

President Obama signed a bill that repeals a law requiring governments to withhold 3% of payments over $10,000 to contractors.

The law would have allowed withholding a portion of payments to contractors was designed to make up for funds lost when some contractors didn’t fully pay their taxes.

Click here to read more about the repeal of the 3% withholding law. BD+C

Overlay Init