AGC Victory! 3% Withholding Repeal Signed Into Law!
On Monday, 11/21/11, President Obama signed into law the 3% 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 January 1, 2013. The bill's signing is the culmination of a five-year effort by AGC, chapters, members, and industry stakeholders to repeal the 2006 provision.
SEE DETAILS ON THE CAMPAIGN EFFORTS AND MEMBER ACTION (.PDF)
The multiyear campaign produced a significant bipartisan victory in an era when bipartisanship seldom happens. During the repeal campaign, AGC members made a concerted effort to get cosponsors, educate industry partners such as public officials, subcontractors and suppliers and get 3 percent repealed in 2011.
AGC members from all regions of the country, all types of construction and all types of occupations within construction firms sent emails, made phone calls and made visits urging members of Congress to support repeal.
AGC would like to thank the tens of thousands of members who heeded the call and helped make this victory possible. The industry faces many legislative challenges in the coming months and AGC hopes the membership will remain as politically active in the future.
For more information contact Jeff Shoaf at AGC of America at (202) 547-3350.