News

President Makes 3 Percent Withholding Repeal Law

Nov. 21, 聽President Obama signed into law the 3 Percent Withholding Repeal and Job Creation Act.聽 The law permanently repeals the requirement that federal, state, and large local governments begin withholding 3 percent of each payment of $10,000 or more to a contractor after Jan. 1, 2013.聽 Today鈥檚 bill signing is the culmination of a and industry stakeholders to repeal the 2006 provision. For more information, contact Karen Lapsevic at 202-547-4733 or lapsevick@agc.org.