Tucked into the law is a requirement that businesses file tax forms called 1099s for every vendor that sells them more than $600 in goods. Business groups say it would create a paperwork nightmare for more than 40 million companies.Putting together the original vote for the health care bill in the first place and the vote to block this needed amendment, Republicans will have a message to carry into the races this fall. Remember this whenever you hear a Democrat talk about how they want to make things easier for small businesses.
The procedural vote was defeated 46-52 and came on an amendment by Sen. Mike Johanns, R-Neb., that would have repealed the reporting provision. But it fell short of a required 60-vote majority. Lawmakers have been unable to agree on how to fill a $19 billion revenue gap from repealing the requirement.
The rule goes into effect in 2012.
Wednesday, September 15, 2010
Forget all their rhetoric about how they want to help the small businessmen. The Senate Democrats failed to repeal the 1099 tax provision of the health care law that even the White House admits is a mistake.