AGC-Supported 3% Withholding Repeal Bill Introduced In Senate

Senator Larry Craig (R-Idaho) introduced S. 777 which will repeal the AGC-opposed 3% withholding law that AGC continues to fight against.

Similar to HR 1023, introduced by Reps. Kendrick Meek (D-Fla.) and Wally Herger (R-Calif.), the legislation simply repeals the new law, which requires 3% of all payments be withheld on contracts with federal, state, and many local governments.  This withholding is more than the income derived from the average contract (1.8% nationwide), and will be devastating to small contractors and their cash flow.  AGC is continuing to push for full repeal.