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![handle is hein.usccsset/usconset50498 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
112TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 112-253
REPEAL OF IMPOSITION OF 3 PERCENT WITHHOLDING
ON CERTAIN PAYMENTS MADE TO VENDORS BY GOV-
ERNMENT ENTITIES
OCTOBER 18, 2011.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. CAMP, from the Committee on Ways and Means,
submitted the following
REPORT
[To accompany H.R. 674]
[Including cost estimate of the Congressional Budget Office]
The Committee on Ways and Means, to whom was referred the
bill (H.R. 674) to amend the Internal Revenue Code of 1986 to re-
peal the imposition of 3 percent withholding on certain payments
made to vendors by government entities, having considered the
same, report favorably thereon without amendment and rec-
ommend that the bill do pass.
CONTENTS
Page
I. SUMMARY AND BACKGROUND ................................................................. 2
A. Purpose and Sum m ary ......................................................................... 2
B. Background and Need for Legislation ................................................ 2
C. Legislative H istory ............................................................................... 2
II. EXPLANATION OF THE BILL ...................................................................... 3
A. Repeal of Imposition of Three-Percent Withholding on Certain
Payments Made to Vendors by Government Entities (sec. 1 of
the bill and sec. 3402(t) of the Code) .................................................. 3
III. VOTES OF THE COMM ITTEE ...................................................................... 6
IV. BUDGET EFFECTS OF THE BILL ............................................................. 6
V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF THE
H O U SE .......................................................................................................... 10
VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED 11
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