PRESS CONFERENCE: Repeal the 3% Withholding tax
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Uploaded by SmallBizRepublicans on Sep 14, 2011
On Wednesday, September 14th, Chairman of the Subcommittee on Contracting and Workforce Rep. Mick Mulvaney (R-SC), Small Business Committee members Rep. Richard Hanna and Rep. Joe Walsh, Ways & Means Committee Member Wally Herger (R-CA), U.S. Chamber of Commerce Vice President Giovanni Coratolo, and small business owners held a bipartisan press conference to call for a full repeal of the 3 percent tax withholding provision included in Section 511 of the Tax Prevention and Reconciliation Act of 2005.
Business owners discussed the job creation affect of the repeal and the need for it to be part of the President's jobs agenda. The President mentioned in his jobs plan speech last Thursday that his plan will include paying small businesses with government contracts faster than before-- repealing the burdensome 3 percent withholding rule would be a great first step. His plan only supports delay of implementation, which does nothing but continue uncertainty for small businesses
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