Cantor Says U.S. House Will Vote to Repeal Contractor Tax Rule

Majority Leader Eric Cantor said the House of Representatives will vote to repeal a law that imposes 3 percent tax withholding on U.S. government contracts.

In a statement, Cantor called the law an “unnecessary tax increase on those who do business with the government.”

The law, written to prevent tax cheating by government contractors, is scheduled to take effect in 2013.

To contact the reporter on this story: Richard Rubin in Washington at rrubin12@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

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