WASHINGTON, D.C. – U.S. Rep. Charlie Dent (PA-15) today voted for legislation (H.R. 674) to help unemployed veterans get back to work and repeal the 3 percent withholding rule on payments made to contractors by federal, state and local governments. The bill, which passed the U.S. House of Representatives and U.S. Senate with overwhelming bipartisan support, is expected to be signed into law shortly.
“Providing tax credits to businesses that hire unemployed veterans and expanding veterans retraining opportunities will help many of the nation’s 1 million unemployed vets get back to work or begin new careers as civilians,” said Rep. Dent. “I am confident repealing the 3 percent withholding rule will also encourage job growth throughout the nation by allowing job creators to better invest in their growth and development.”
President Barack Obama’s fall jobs plan included targeted tax credits to encourage businesses to hire unemployed vets. When unveiling the proposal in September, the President also recognized the need to address the troublesome 3 percent withholding rule as a means to spur economic growth. These items were embraced by Congressional leaders in both parties and advanced through both chambers with little opposition.
“I am hopeful the overwhelming bipartisan support this legislation received serves as another indication that both parties in Congress can come together to advance policies that will accelerate our economic recovery,” said Rep. Dent.