WHAT:         Bipartisan Press Conference: Repeal 3% Withholding Tax Provision

WHEN:        Thursday, May 26, 2011
                      12:00 p.m.

WHERE:     Outdoor House Triangle (Rain Location: CVC Congressional Meeting Room North)

WHO:          Members of the Small Business & Ways & Means Committees, and leaders on this issue.

The 3% withholding law was enacted in 2005. The provision requires that payments by gov’t entities for goods & services be subject to 3% income tax withholding. The ARRA made it effective for payments made after Dec. 31, 2011, then the IRS delayed the payments after Dec. 31, 2012. Three bills before Congress seek to repeal the withholding requirement: HR 674 (has 116 co-sponsors), introduced by Rep. Wally Herger, R-Calif.; S 89 from Sen. David Vitter, R-LA.; and S 164, from Sen. Scott Brown, R- MA

NOTE: The Small Business Subcommittee on Contracting and Workforce is holding a hearing entitled, Defer No More: The Need to Repeal the 3% Withholding Provision at 10am on this day in room 2360 of the Rayburn House Office Building

Confirmed Attendees

Rep. Mick Mulvaney (R-SC), Chairman, Small Business Subcommittee on Contracting and Workforce 
Rep. Earl Blumenauer (D-OR), Lead sponsor of HR 674, Member, Ways & Means Committee
Rep. Wally Herger (R-CA), Lead sponsor of HR 674, Member, Ways & Means Committee
Rep. Joe Walsh (R-IL), Chairman, Small Business Subcommittee on Economic Growth, Tax & Capital Access
Rep. Kurt Schrader (D-OR), Ranking Member, Small Business Subcommittee on Economic Growth, Tax & Capital Access
Rep. Gerry Connolly (D-VA)
Rep. Jeff Landry (R-LA)
Rep. Richard Hanna (R-NY)
Mr. Giovanni Coratolo, Chamber of Commerce VP of Small Business Policy
Mr. James P. Gaffney, Owner, Goshen Mechanical Inc., Malvern, PA
Mr. Curtis M. Loftis Jr., Treasurer, State of South Carolina, Columbia, SC