Dr. Boozman's Check-up
Nov 02 2011
As Congress debates competing plans to get Americans working again, I started a series of blog posts aimed at shining a spotlight on the individual bills that make up The Jobs Through Growth Act and how each one will help put our economy on a road to recovery.
In this edition, we’re highlighting The Withholding Tax Relief Act, a bill that repeals an unnecessary tax that hurts every small business that works with local, state, and federal agencies.
Since it was recently overwhelmingly approved by the House of Representatives in its stand-alone form, we can knock this piece of our jobs plan out immediately if Senate Majority Leader Harry Reid would bring it up for a vote. 170 Democrats voted for the House-passed bill and the repeal is included in President Obama’s plan as well.
With support of the House and the President, this commonsense, common-ground effort does not need to languish in the Senate with an economy in need of this sort of market-based reform.
There is no reason why government agencies should be required to withhold federal taxes from payments to contractors. This withholding takes money from the companies that could otherwise be used for capital investments, employees or additional project bids. Repealing this requirement is one step toward fostering an environment that helps create jobs in the private sector. Despite the Majority Leader’s recent out-of-touch claims, the private sector is exactly where jobs are needed the most.
Republicans and Democrats can and must come together to help jumpstart our economy. We proved that we can by recent passage of the South Korea, Columbia and Panama free trade bills. The Withholding Tax Relief Act is another perfect example of where we can find common ground. Let’s pass it, send it to the President and keep focusing on ways we can cooperate to get Americans working again.