Tags: Obama | House | contractor | tax | repeal

White House Backs GOP Bill on Contractor Tax Repeal

Wednesday, 26 Oct 2011 12:55 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  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:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Andrew Cuomo Finally Endorsed By New York Times Editorial Board

Monday, 20 Oct 2014 23:12 PM

Spurned by The New York Times editorial board in his primary race last month, New York Gov. Andrew Cuomo snagged the end . . .

Ross, Hutchinson Get Final Digs in on Tax Cuts

Monday, 20 Oct 2014 23:08 PM

Republican Asa Hutchinson and Democrat Mike Ross took swipes at each other's tax cut plans and political backgrounds Mon . . .

Poll: Roberts, Orman in Dead Heat in Kansas Senate Race

Monday, 20 Oct 2014 22:52 PM

The closely watched U.S. Senate race in Kansas is going down to the wire: incumbent Republican Sen. Pat Roberts and inde . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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