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Hanna: 3 Percent Withholding Hurts Small Businesses

Considering the major deterioration of our national infrastructure, the last thing we should be doing is increasing the cost to fix roads, bridges, sewers and other systems. The cost to rebuild and repair will only go up if the 3 percent withholding tax isn’t repealed.

Above all else, this requirement will greatly lessen one great American value associated with contracts and bidding: competition. Contractors who deliver public services for local, state and federal governments could decide they simply can’t afford to be government vendors. We should foster competition, not limit it.

Small businesses are key to our nation’s vitality. In this struggling economy, the last thing lawmakers should be implementing is a tax on services provided that will ultimately cost more than it will bring in.

It boils down to this: Are we a nation of laws or are we a nation that penalizes a person before they’ve committed a crime? Do we believe it is fundamentally fair to treat those who are compliant with their taxes the same as those who evade them? I think not.

Let’s permanently repeal the 3 percent withholding tax.

Rep. Richard Hanna (R-N.Y.) is a member of the Transportation and Infrastructure, Education and Workforce, and Small Business committees.

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