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November 11, 2011

RE: 3% Federal IRS Withholding Repealer Amended and Passed by Senate Bill Returns to House of Representatives for Concurrence

Dear Mayor:

Yesterday, in Congress, the U.S. Senate passed H.R. 674 by a vote of 95 to 0! This bill must be passed to repeal the burdensome three percent withholding requirement originally enacted in Section 511 of the Tax Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222). (For more information, see our letter of October 20 at http://www.njslom.org/letters/2011-1020-IRS.html.)

Before final passage, an amendment to H.R. 674 was approved to include tax credits for veterans hiring, a Treasury study of tax delinquency among federal contractors, and a technical clarification about the application of the existing federal levy program to reflect congressional intent that payments for property can be levied along with payments for goods and services. This amendment passed 94 to 1. Because H.R. 674 was amended, the bill must go back to the House for approval before going to the President for his signature.

While H.R. 674 had previously passed overwhelmingly in the House, we do not want to take anything for granted. Let’s see this through and keep pressure on by urging quick and decisive final action in the House.

Please contact your Congressman on this. If you have any questions, contact Jon Moran at 609-695-3481, ext. 121 or jmoran@njslom.com.

Very truly yours,

 

William G. Dressel, Jr.
Executive Director

 

 

 

 

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