3% Withholding Repeal and Job Creation Act

Floor Speech

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Mr. VAN HOLLEN. Madam Speaker, three weeks ago, this House passed legislation to repeal the 3% withholding rule for contractors doing business with the federal government and an adjustment to the formula used to calculate Medicaid and tax credit eligibility under the Affordable Care Act.

Today's bill--sent back to us by the Senate--packages these two initiatives with the Veterans Hiring Tax Credit contained in the American Jobs Act and several other provisions designed to support veterans looking for work.

Madam Speaker, it's about time. Finally, if only in a small way, we are moving legislation to accelerate job creation in this Congress. With unemployment rates for today's returning veterans hovering above 12%, these steps are the least we can take to support our service members transitioning to civilian life. Frankly, I would go further and complete consideration of the rest of the American Jobs Act without further delay.

As regards the rest of the legislation, it is no secret that I would prefer savings from the adjustment to the Affordable Care Act formula be repurposed to other pressing health care needs. That being said, I support the adjustment and have long been a cosponsor of the bill to repeal the onerous 3% withholding requirement.

Accordingly, I will cast a ``yes'' vote for today's legislation.

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