Tags: Obama | House | contractor | tax | repeal

White House Backs GOP Bill on Contractor Tax Repeal

Wednesday, 26 Oct 2011 12:55 PM

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Who says the White House and House Republicans can’t find areas of agreement? The White House announced Tuesday that it supports a Republican bill in the House calling for repeal of a tax that both sides see as hampering hiring, The Hill reports.

The proposal eliminates a requirement that the federal government withhold 3 percent of payments to contractors as a down payment on future taxes. The law was designed to deter tax evasion, but has been delayed multiple times amid concern of its negative impact on the economy. In his jobs plan released last month, President Barack Obama proposed delaying the withholding tax for another year.

Rep. Wally Herger, R-Calif., is sponsoring the repeal bill. A White House statement said the legislation “would reduce a burden on government contractors who otherwise comply with their tax obligations, particularly small businesses.”

© 2014 Newsmax. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Cuomo Book Title Change Spurs Speculation About NY Governor's Future

Thursday, 17 Apr 2014 08:07 AM

Speculation that Gov. Andrew Cuomo will make a run for the White House has intensified with the announcement that a majo . . .

Hillary Super PAC Hires Regional Campaign Staff

Thursday, 17 Apr 2014 07:46 AM

Super PAC Ready for Hillary is bringing on four regional directors to its campaign machine, the National Journal reporte . . .

Perry's Presidential Bid Hampered by Tangle Over Texas Corruption Unit

Thursday, 17 Apr 2014 07:17 AM

Texas Gov. Rick Perry's hopes to capture the 2016 Republican presidential nomination are being overshadowed by a politic . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved