CORNERSTONE - The Associated General Contractors of New York ...

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President Makes 3 Percent
Withholding Repeal Law
On November 21, President Obama signed into law
the 3 Percent 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 signing is the culmination of a five-year effort by
AGC, chapters, members, and industry stakeholders to repeal
the 2006 provision. 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 co-sponsors, 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suppliers and get 3 percent repealed in 2011.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.
Winter Meeting in
St. John, U.S.V.I
January 20-25, 2012
Register today:
www.agcnys.org
For more registration information, please
contact Cathy Newell at: (518) 456-1134 or via
email: cnewell@agcnys.org