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House to Take Up Contractor Withholding Repeal Next Week

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House Republicans may take up bipartisan legislation next week to repeal a law requiring the government to withhold 3 percent of contracts, according to a report from The Hill.

The House Ways and Means Committee approved the legislation by voice vote Thursday, and House aides said GOP leaders were aiming to bring the bill to the full chamber next week.

The withholding rule became law in 2005 but was never implemented and, as a result of the 2009 stimulus bill, was delayed until the end of this year. Earlier this year, the Internal Revenue Service delayed the rule again until the end of 2012.

President Obama’s jobs proposal calls the withholding rules “burdensome withholding requirements that keep capital out of the hands of job creators.”

The bipartisan bill is sponsored by Reps. Wally Herger (R-Calif.) and Earl Blumenauer (D-Ore.), and has 267 cosponsors.

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