WASHINGTON, D.C. – U.S. Senator Roy Blunt (Mo.) released the following statement regarding the bipartisan repeal of the 3 percent withholding tax and passage of the veterans jobs bill:

“The Senate took an important step to reduce economic uncertainty with the passage of these bipartisan bills, both of which passed the House with overwhelming support and President Obama has signaled his willingness to sign it into law.

“I was proud to cosponsor the repeal of the onerous 3 percent withholding tax, which places an unnecessary financial burden on numerous job creators across America. For many businesses, the profit margin for completed projects is often less than 3 percent – meaning that the withholding tax would have created significant cash flow problems for day-to-day operations and drained capital that could be used for future business expansion.

“I was also proud to support important tax incentives for businesses that hire veterans who are coming home and in need of work. As we mark Veterans Day this week, we’re reminded of the incredible sacrifices that our nation’s servicemen and women make each and every day to protect our freedoms. We owe it to these brave heroes to ensure they have the opportunity to earn a living once they return home.

“These are strong steps in the right direction, and I look forward to working with my colleagues to pass more bipartisan solutions to help Missourians and people across America get back to work.”