Camp Says Imminent Contractor Tax Repeal Bill Will Be Offset

A bill to repeal a law requiring 3 percent tax withholding on government contracts is “imminent,” said Representative Dave Camp, chairman of the House Ways and Means Committee.

The repeal legislation, which would cost the U.S. government about $11 billion in forgone revenue over the next decade, will be offset so that it doesn’t add to the budget deficit, the Michigan Republican said in a brief interview in the Capitol today.