President Makes 3 Percent Withholding Repeal Law

Nov. 21,  President Obama signed into law the 3 Percent Withholding Repeal and Job Creation Act.  The law permanently repeals the requirement that federal, state, and large local governments begin withholding 3 percent of each payment of $10,000 or more to a contractor after Jan. 1, 2013.  Today’s bill signing is the culmination of a five-year effort by AGC, chapters, members and industry stakeholders to repeal the 2006 provision. For more information, contact Karen Lapsevic at 202-547-4733 or lapsevick@agc.org.