Bruce L. Braley: “H.R. 4881, the Contracting and Tax Accountability Act of 2008, is a very simple bill and a very timely bill. It prevents…”

“H.R. 4881, the Contracting and Tax Accountability Act of 2008, is a very simple bill and a very timely bill. It prevents companies that don't pay their taxes from receiving contracts with the Federal Government. Today, people across the country are finishing up their tax returns to submit to the IRS by tomorrow. Nobody likes to pay taxes, but the vast majority of American families and companies obey the law and comply with their responsibilities as citizens and taxpayers. Unfortunately, some people do not follow the law and have serious delinquencies in paying taxes to the IRS. What is shocking to me and honest taxpayers across the country is that many companies that didn't pay their taxes were benefiting from Federal Government contracts. GAO studies over the past few years have identified more than 50,000 contractors owing nearly $8 billion in unpaid Federal taxes. This bill will put an end to that problem once and for all. Mr. Speaker, H.R. 4881 establishes a process to prohibit companies with seriously delinquent Federal tax debt from receiving new Federal contracts and grants.”