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House Votes To Repeal 3 Percent Withholding Rule

Posted on 10/28/2011

The House yesterday passed a bill (H.R. 674) by a vote of 405-16, which repeals a provision from the 2005 tax bill that will require 3 percent tax withholding on certain government payments to outside vendors beginning in 2013.

The House also passed, by a vote of 262-157, a bill (H.R. 2576) to offset the revenue lost from repealing the withholding requirement, estimated at $11.2 billion over 10 years, by making changes to certain health insurance subsidies.

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