Senate Vote to Repeal 3 Percent Tax Withholding Mandate by 95 to 0 a Victory for Construction Firms, Workers, and Taxpayers

In response to the Senate vote (by a margin of 95 to 0) to repeal the 3 percent tax withholding mandate, AGC's chief executive officer, Stephen E. Sandherr issued the following statement: "An overwhelming bipartisan majority of Senators understand that repealing the 3 percent tax withholding mandate is essential to boosting economic growth. With construction activity down by $400 billion and the industry's unemployment rate at 13.7 percent, the last thing construction employers need is to be forced into giving interest-free loans to the federal government. That is why today's Senate vote comes as welcome news for construction firms, workers and taxpayers alike. As our members made clear in a recently released survey, many firms will be better able to offer positions to the veterans this legislation also supports without the enormous cost of this measure looming." This story was covered by Bloomberg, ENR, Big Sky Business Journal, Supply House Times, Plumbing and Mechanical Magazine, Site Prep Magazine, and Construction Equipment Guide.