Tester statement on vote to repeal business tax on contractors
(U.S. SENATE) – Senator Jon Tester today released the following statement after voting to advance a bipartisan bill repealing a three percent withholding tax on contractors, allowing them to grow and create more jobs:
“Today’s Senate vote puts Montana’s small businesses one step closer to generating more good-paying jobs and growing our state’s economy. By repealing this tax on contractors, Congress will provide businesses the breathing room needed to invest and hire new workers. I look forward to finally getting this burdensome provision off the books and finding more ways to support Montana’s job creators.”
Tester recently cosponsored and voted for similar provisions to remove the three-percent tax and support Montana’s contracting industry. The tax, established in 2006, is scheduled to be implemented in 2013. The Senate may consider the bill for final passage on Thursday.
Tester’s strong support for small businesses and contractors includes his votes to repeal the “1099” tax reporting requirement, which added onerous costs and paperwork for small businesses, and his Level Playing Field Act that sought to open federal contracting opportunities for small businesses.