Unanimous bipartisan House approval of a bill to repeal the 3% withholding tax rule for contractors is a victory for the construction industry. The bill also provides tax incentives for companies that hire unemployed military veterans. The repeal “will provide some much-needed relief for a hard-hit industry and its struggling workers," said Stephen Sandherr, CEO of AGC. President Barack Obama has said he will sign the bill.
For more information about the 3% tax repeal bill click here.
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