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Cantor: House to Consider Repeal of Contractor Withholding Tax

Rep. Eric Cantor (R-Va.)

House Majority Leader Eric Cantor (R-Va.) said the House will vote this month on a repeal of a 3 percent withholding tax on government contracts, Bloomberg reported Monday.

The law, scheduled to take effect in 2013, requires the federal government, state governments and many large local governments to withhold 3 percent of contracts.

Cantor told reporters they “will see as the bill comes forward” how the repeal would make up the lost revenue.

Cantor said the House will also consider legislation to ratify trade agreements with Colombia, Panama and South Korea.

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