Senate Follows House’s Lead, Votes to Terminate 3% Withholding Tax on Contractors

Ding, dong the tax is dead.

By a unanimous 95-0 vote, the U.S. Senate put an end to the 3% withholding tax on contractors due to go into effect in January 2012.  Since the legislation has already passed the U.S. House and is part of President Obama’s much-discussed jobs package, the White House is expected to sign the legislation into law soon.

Coverage from the Washington Post can be found here.  A press release from Carolinas AGC marking the occasion can be found here.  My earlier coverage of this story can be found here.