S.1726 - Withholding Tax Relief Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. McConnell, Mitch [R-KY] (Introduced 10/17/2011)|
|Latest Action:||10/20/2011 Cloture on the motion to proceed to the bill not invoked in Senate by Yea-Nay Vote. 57 - 43. Record Vote Number: 178.|
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Summary: S.1726 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (10/17/2011)
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.