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S. 164: Withholding Tax Relief Act of 2011
A bill to repeal the imposition of withholding on certain payments made to vendors by government entities.
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Introduced :
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Tue, Jan 25, 2011
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Sponsor :
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Status :
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introduced Tue, Jan 25, 2011
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May-12
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0 Total Hits For All Bills
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Co-Sponsors
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Actions
| Date | Type | Description | Result |
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1/1/0001
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action
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Read twice and referred to the Committee on Finance.
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Subject Terms
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Related Legislative
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Titles Assigned
| Type | AS | Title |
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short
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introduced
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Withholding Tax Relief Act of 2011
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official
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introduced
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A bill to repeal the imposition of withholding on certain payments made to vendors by government entities.
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SUMMARY:
1/25/2011--Introduced.
Withholding Tax Relief Act of 2011- Repeals the provision of the Tax Increase Prevention and Reconciliation Act of 2005 requiring federal, state, and local governmental entities to withhold 3% of payments due to vendors providing goods and services to such entities. Rescinds permanently $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.
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