Signed into law by President Obama on 11/21/11
This bill repealed the 3% federal withholding requirement for taxpayers who receive payments of $10,000 or more from federal, state, or local contractors that was to take effect in 2013.
2 new credits also came out of this bill – 1) 40% credit of the first $14,000 of wages paid to a veteran hired after 11/21 who has been out of work for 6 months or more; 2) 40% credit of the first $6,000 of wages paid to a veteran hired after 11/21 who has been out of work for 4 weeks up to 6 months
