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FBN’s Peter Barnes on the resolution to repeal a tax on government contractors heading to the White House for Obama’s signature.
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-- 678 or an accident.
And revenue competitive 198600.
Million.
3%.
I'm certain payments need to vendors by government and.
The house voted unanimously to repeal this tax on government contractors which was scheduled to take -- -- and 2013.
The legislation was approved unanimously by the senate earlier and now it goes to the White House for president Obama's signature.
The US chamber of commerce said the move lifted a cloud of uncertainty hanging over the business community.
Especially small government contractors that operate on tight profit margins the original law was passed in 2005 to catch tax -- and was delayed several times while it would have collected more than ten million dollars over ten years opponents said it would impose more burdens on companies than it was worth.
The legislation also included new tax credits for companies that hire veterans that's it for this edition of the small business report.
I'm Peter Barnes Fox Business now.
