ND1122111

Title: Washington Report: President Obama Signs Bill To Repeal 3% Withholding Law

Description: Many NACS members have contracts with local government agencies to fuel their vehicles and may be subject to the withholding requirement.

Page Content:

WASHINGTON ? Yesterday, President Obama signed into law legislation that repeals the 3% withholding requirement for government payment to contractors.

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In late October, the House passed its first version of H.R. 674 that would repeal a requirement in current law, scheduled to take effect Jan. 1, 2013, that allows the federal government, as well as state and local governments, to withhold 3 percent of most payments made to government contractors. Many NACS members have contracts with local government agencies to fuel their vehicles and may be subject to the withholding requirement.

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Congressional Quarterly wrote that the Senate amended H.R. 674 two weeks ago to include a measure to increase veterans? employment, providing tax credits to companies that hire veterans with service-related disabilities and who have been unemployed for at least six months.

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Last week on Nov. 16, when the amended Senate version came back to the House for a vote, it passed unanimously ? a move applauded by President Obama. ?No veteran who fought for our country should have to fight for a job when they come home,? the president said.

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Content Subject: Government Relations

Formatted Article Date: November 22, 2011

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