[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1726 Placed on Calendar Senate (PCS)]

                                                       Calendar No. 205
112th CONGRESS
  1st Session
                                S. 1726

  To repeal the imposition of withholding on certain payments made to 
                    vendors by government entities.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 17, 2011

 Mr. McConnell introduced the following bill; which was read the first 
                                  time

                            October 18, 2011

            Read the second time and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
  To repeal the imposition of withholding on certain payments made to 
                    vendors by government entities.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Withholding Tax Relief Act of 
2011''.

SEC. 2. REPEAL OF IMPOSITION OF WITHHOLDING ON CERTAIN PAYMENTS MADE TO 
              VENDORS BY GOVERNMENT ENTITIES.

    The amendment made by section 511 of the Tax Increase Prevention 
and Reconciliation Act of 2005 is repealed and the Internal Revenue 
Code of 1986 shall be applied as if such amendment had never been 
enacted.

SEC. 3. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS IN REVENUES.

    (a) In General.--Notwithstanding any other provision of law, of all 
available unobligated funds, $30,000,000,000 in appropriated 
discretionary funds are hereby permanently rescinded.
    (b) Implementation.--The Director of the Office of Management and 
Budget shall determine and identify from which appropriation accounts 
the rescission under subsection (a) shall apply and the amount of such 
rescission that shall apply to each such account. Not later than 60 
days after the date of the enactment of this Act, the Director of the 
Office of Management and Budget shall submit a report to the Secretary 
of the Treasury and Congress of the accounts and amounts determined and 
identified for rescission under the preceding sentence.
    (c) Exception.--This section shall not apply to the unobligated 
funds of the Department of Defense or the Department of Veterans 
Affairs.
                                                       Calendar No. 205

112th CONGRESS

  1st Session

                                S. 1726

_______________________________________________________________________

                                 A BILL

  To repeal the imposition of withholding on certain payments made to 
                    vendors by government entities.

_______________________________________________________________________

                            October 18, 2011

            Read the second time and placed on the calendar