On the recordOctober 27, 2011
I am proud to be an original sponsor of this important bipartisan legislation, which will remove a sizable impediment to job creation in the private sector. Repealing this burdensome 3-percent withholding regulation will offer predictability and free up capital that employers have been holding in abeyance. Those dollars now can be used to create jobs, increase wages, or fund business investments that will benefit our local economies. That is why a diverse coalition of industry and government--including retailers, telecom, and local and state government associations-- strongly support this repeal. The federal government has a historic partnership with the private sector supporting research and innovation, which has led to job creation and economic growth. Allowing this ill-conceived regulation to go into effect would damage that partnership at the very time we need to be collaborating more with the private sector. This is one repeal that enjoys bipartisan support from the House and Senate, the President and the business community. I urge my colleagues to support it and to keep this private capital where it belongs--in the hands of our job creators. The SPEAKER pro tempore. All time for debate has expired. Pursuant to House Resolution 448, the previous question is ordered on the bill, as amended. The question is on the engrossment and third reading of the bill. The bill was ordered to be engrossed and read a third time, and was read the third time.…





