House Passes Legislation to Repeal the 3 Percent Withholding Tax

NJECPAC applauds the U.S. House of Representatives passage of a measure that would repeal the 3 percent withholding tax. The legislation would eliminate the 3 percent withholding tax requirement for work performed on Government Projects.

The U.S. House of Representatives today passed by the measure by a bipartisan vote of 405-16. The measure would repeal the requirement for federal, state and local governments to withhold 3 percent of payments to government contractors starting in 2013.

The measure now moves on to the Senate, where they continue to debate how to offset the $11 billion that the repeal would cost the Treasury in forgone revenue over 10 years. 

The U.S. Chamber of Commerce and other business groups have said that the withholding requirement is too onerous and that its repeal is one of the few areas of agreement between President Barack Obama and congressional Republicans.

"I am pleased to see that the House had the wherewithal to finally support a measure that we have been asking them to pass for a number of years" said NJECPAC Chairman Joe Coviello.

"The legislation passed by the House proves that our persistence and time spent in Washington each year at the IEC National Legislative Conference is time well spent. When passed by the Senate the repeal of this burdensome measure will benefit every Contractor" said NJECPAC Board of Governor member Bruce Kohan.

Read More 

Follow NJECPAC on Twitter,  Facebook, YouTube, LinkedIn 
Explore More at NJECPAC

Obama's Epic Iraq Failure

What has not been reported by the MSM is that Obama wanted to keep troops in Iraq beyond the end of the year. What you also did not hear is the end of the year 2011 deadline was negotiated by President George W. Bush.

The Bush deadline was dismissed and bashed by the Mainstream Media when it was announced in 2008. Now Obama is held up as some sort of a Hero complete with chills running up Chris Mathews leg, Of course there is also no mention that it is the Bush plan that he is following. 

Obama and and Democrats are always campaigning, they campaign 24/7, yet Obama's base has frayed, and Independents have abandoned him. So for the Obama Administration what better time to steal credit for getting troops out of Iraq then the present. Oh Yeah! per the original Bush timeline. 

However, the Heritage Foundation reports, Obama was in negotiations with the Iraqis up until last week to keep troops in Iraq beyond 2011. The only reason he is pulling troops out at the end of the year is in another epic failure, his administration was unable to negotiate immunity for our troops that were to stay behind to support Iraqi's in counter-terrorism, air support, intelligence gathering, logistics, and training. Read More

Obama has now personally placed the welcome Mat at Iraq's Door for Iran 

Follow NJECPAC on  

Twitter,  Facebook, YouTube, LinkedIn

Explore More at NJECPAC