Mr. FITZPATRICK. I thank the gentleman for the time and also for his leadership in bringing both parties together around this idea that will create jobs in the United States. I rise in support of the rule today and in support of the underlying legislation.
Throughout the past year, I have heard over and over again from small businesses, from women-owned businesses, from contracting businesses, hospitals and the like that this rule, which essentially amounts to a tax, will hinder business' ability to compete, grow, and thereby create jobs. This bill that's before the House today would right a wrong that unnecessarily punishes good actors, small businesses, and local governments who do business with the Federal Government in good faith. Small businesses, who often operate with the thinnest of margins, will be unnecessarily targeted in the Federal Government's zeal to capture more money. Small and medium-sized businesses are being looked to for our economic recovery. We cannot simultaneously ask American companies to begin hiring again while we withhold the capital that they require to grow.
Additionally, while the 3 percent withholding bill was originally well-intentioned, implementation of this rule has been continuously delayed, most recently in the 2009 stimulus bill and again by the IRS in May of 2011. This is a clear indication of the widespread recognition that this provision is costly and harmful to our economy.
So, Mr. Speaker, I cosponsored this underlying bill because it is bipartisan legislation that will be good for the economy and will help create certainty for job creators. The President has expressed support for this repeal. I urge swift action on the legislation in the Senate. I ask my colleagues to support the rule and the underlying bill.