summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Withholding Tax Relief Act of 2011 - Repeals the provision in the Tax Increase Prevention and Reconciliation Act of 2005 requiring federal, state, and local governmental entities to withhold 3% of payments due to vendors providing goods and services to such entities. Rescinds permanently $30 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.
AI Summary
This bill, the Withholding Tax Relief Act of 2011, aims to repeal a provision from the Tax Increase Prevention and Reconciliation Act of 2005 that required federal, state, and local government entities to withhold 3% of payments made to vendors for goods and services. To offset the potential loss in government revenue resulting from this repeal, the bill also permanently rescinds $30 billion in appropriated but unused discretionary funds, with the exception of unobligated funds belonging to the Department of Defense (DOD) or the Department of Veterans Affairs (VA). The Director of the Office of Management and Budget (OMB), a federal agency responsible for overseeing the executive branch's operations, will be tasked with identifying which specific appropriation accounts will have these funds rescinded and will report this information to the Secretary of the Treasury and Congress.
Sponsors (21)
Kelly Ayotte (R),
John Barrasso (R),
Roy Blunt (R),
John Boozman (R),
Scott Brown (R),
Richard Burr (R),
Susan Collins (R),
John Cornyn (R),
Michael Enzi (R),
Dean Heller (R),
John Hoeven (R),
Mike Johanns (R),
Mark Kirk (R),
John McCain (R),
Mitch McConnell (R),
Jerry Moran (R),
Lisa Murkowski (R),
Marco Rubio (R),
Olympia Snowe (R),
John Thune (R),
David Vitter (R),
Last Action
Cloture on the motion to proceed to the bill not invoked in Senate by Yea-Nay Vote. 57 - 43. Record Vote Number: 178. (consideration: CR S6840-6841; text: CR S6840) (on 10/20/2011)
Official Document
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