Hatch Votes to Repeal Burdensome 1099 Health Care Mandate
WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, hailed Senate passage of an amendment to repeal the burdensome 1099 tax reporting requirement in the $2.6 trillion health law. The amendment, offered by U.S. Senator Johanns (R-Neb.), overwhelmingly passed the Senate today by a vote of 87 to 12.
“The 1099 health care mandate is an albatross around the necks of American small businesses, forcing them to bear the brunt of the Obama Administration’s big-spending, tax-hiking, debt- increasing agenda,” said Hatch, who joined with Senator Johanns last fall to launch the 1099 repeal effort. “I commend Senator Johanns for his ongoing leadership on this vital issue. Removing this costly regulatory burden from the backs of these entrepreneurs will allow them to do what they do best: create good-paying jobs.”
The 1099 provision required businesses, charities and state and local governments to file a 1099 form with the Internal Revenue Service to report annual purchases from contractors above $600, thus placing a crushing bookkeeping burden on the nation’s small-business owners who typically lack the in-house finance department or other resources to track this kind of reporting, according to the National Federation of Independent Business.
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