The Hill reports that the House may consider a jobs bill next week repealing the IRS’s three percent withholding tax – another one of the proposals highlighted by House leaders as an area of common ground between the jobs plans outlined by President Obama and Republicans.
In the recent Weekly Republican Address, Majority Whip Kevin McCarthy (R-CA) said the withholding tax “makes no sense at all” and “allows government to capture and waste money that entrepreneurs could – and should – be using to innovate new products and hire new workers.”
That’s why, as both Speaker Boehner and Majority Leader Cantor have said, the House will soon be voting to permanently repeal this tax and protect small business job creators from yet another excessive government rule. The Hill notes that the bill is “high up on the list of GOP priorities for legislation to help create the conditions for job growth” – and it’s backed by President Obama as well:
“House Republicans could take up bipartisan legislation next week to repeal a widely scorned law requiring all levels of government to withhold 3 percent of most payments to contractors, Medicare recipients, farmers and vendors. …
“Republicans are not the only ones opposing current law — even President Obama has called the possible withholding rules ‘burdensome withholding requirements that keep capital out of the hands of job creators.’”
While the president continues to push for more of the same failed short-term “stimulus” policies, the House is taking action on pro-growth proposals supported by both parties. Visit jobs.GOP.gov to learn more about the Republican jobs plan, and click here for the memo from House leaders outlining more areas of potential common ground on removing government barriers to private-sector job growth.