U.S. Congressman Mike Pence hailed a new law today that would repeal the three percent withholding requirement on certain payments made to contactors doing business with federal, state, and local governments and would also expand hiring incentives for unemployed veterans. Pence voted for H.R. 674 when it was considered in the U.S. House.
"I am pleased that the president signed into law this important job-creating legislation that will repeal unnecessary burdens on contractors and will help our nation's heroes find work," said Pence. "During a time when many Hoosiers are hurting, we need to come together to find common sense solutions. This legislation is one of the many ways we can help our fellow Americans."
H.R. 674 passed the U.S. House of Representatives and then was amended by the U.S. Senate to include veterans-related provisions. Pence was a cosponsor of the original bill that passed the House October 27, 2011. The bill retains the House provision repealing the three percent withholding requirement for government contractors as well as the provision defining "modified adjusted gross income" for certain health benefits. It also adds veterans-related provisions including the expansion and extension of the Work Opportunity Tax Credit for businesses that hire certain unemployed veterans. This amended bill passed the House November 16, 2011.