Fair Share Act Targeting Contractors Now Law
By: Web Producer
Updated: June 19, 2008
A bill targeting federal contractors became law Wednesday.
The Fair Share Act of 2008 was introduced by Representative Brad Ellsworth.
It will withhold large federal contracts from businesses and organizations that fail to file tax returns.
The Government Accountability Office says thousands of contractors owe billions of dollars in unpaid taxes.
Ellsworth said, "Hoosiers play by the rules and pay their taxes; I dont think its too much to ask government contractors to do the same. When people skirt the tax system, they place an unfair burden on the rest of us."
The new law is expected to save American taxpayers almost $100 million each year.
