Statement from Chief Financial Officer Jeff Atwater Regarding Passing the Repeal of the Three Percent Withholding Requirement
Contact: Alexis Lambert
TALLAHASSEE – Florida Chief Financial Officer Jeff Atwater today released the following statement regarding the U.S. House of Representatives passing of HR 674 to repeal the three percent withholding requirement. The repeal bill has now passed both chambers of Congress and is on its way to the president’s desk to be signed into law.
“The threat of a three percent withholding tax has put a strain on the American entrepreneur. Today, our leaders have done the right thing by voting to repeal this burdensome backdoor tax increase,” said CFO Jeff Atwater. “In these challenging economic times, Americans do not have one more dime to give to government. It is my hope that the White House will sign this bill into law and stop shortening the leash on the American dream.”
Chief Financial Officer Jeff Atwater, a statewide elected official and officer of the Florida Cabinet, oversees the Department of Financial Services. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away capital, and ensuring transparency and accountability in spending.