U.S. Chamber Praises Final Passage of 3% Withholding Repeal

WASHINGTON, D.C.—U.S. Chamber of Commerce Executive Vice President for Government Affairs, Bruce Josten, issued the following statement today on final passage of legislation to repeal the burdensome 3% withholding tax mandate:

“By repealing the 3% tax withholding provision that was scheduled to take effect in 2013, Congress took an important step in lifting a cloud of uncertainty hanging over the business community. With passage of this legislation, many small businesses that operate on tight margins will feel more comfortable making decisions to hire and invest in their companies knowing that the government won’t be allowed to hold 3% of their revenues. We look forward to the president signing this important legislation into law expeditiously so this provision will be fully repealed once and for all.

“The Chamber appreciates the leadership of Senator Scott Brown (R-MA) and Congressmen Wally Herger (R-CA) and Earl Blumenauer (D-OR), who spearheaded the legislative effort, as well as Speaker Boehner and Leader Cantor who added this effort to the Fall ‘to do’ list in the House and Leader McConnell who pushed the issue at a critical point in the Senate.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.