Congressman Flake Applauds House Passage of Tax-Repeal Bill That Will Help Private Sector Create Jobs
Press Release
Issues: Taxes Government Operations
Republican Congressman Jeff Flake, who represents Arizona's Sixth District, today applauded the passage of H.R. 674 which amends the Internal Revenue Code of 1986 to permanently repeal the 3-percent withholding requirement for federal, state, and local government entities on payments due to their vendors. Congressman Flake is a cosponsor of H.R. 674.
The 3-percent withholding provision imposes costly administrative compliance burdens for state and local governments and reduces employers' cash flows, which hampers job creation.
"Repealing this onerous provision is a solid step toward job creation and toward more fiscally solvent state and local governments across the country," said Flake.
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