House Passes HR 674 to Repeal the 3% Withholding Tax
Great news. The US House of Representatives just passed HR 674 to repeal the 3% withholding requirement by a vote of 405-16. HR 2576 which modifies the calculation of modified adjusted gross income for purposes of determining eligibility for certain healthcare-related programs and that is the designated offset for HR 674 also passed by a vote of 262-157 this morning. The bills will now be combined and sent to the Senate. Stay tuned, we will send additional information regarding action in the Senate as soon as we learn more.