11/21/2011
Focus on Contractors: Repeal of the 3% Government Contractor Withholding
President Obama signed legislation today, November 21, 2011, repealing the 3% government contractor withholding requirement. The withholding requirement was added as part of the Tax Increase Prevention and Reconciliation Act of 2005 and would have mandated that all federal, state and local governments with total annual expenditures of $100 million or more withhold 3% on all government payments for products and services.