Healthcare 1099 Repeal Effort Fails
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An effort to repeal the 1099 provisions included in the healthcare reform bill passed earlier this year failed this evening in the U.S. Senate.
The New York Times is reporting that the Democratic plan to eliminate the 1099 reporting requirement for businesses failed 44 to 53, while a Republican plan that made other cuts to the bill failed 61 to 35.
The 1099 requirement would effect businesses by making them file a 1099 form every time they do business with a contractor and/or vendor for $600 or more. The revenue from filing the 1099′s was supposed to pay for the provisions of the health care reform law.
Sen. Joe Manchin campaigned on eliminating “the bad parts” of the healthcare reform bill, specifically the 1099 requirement, and was a co-sponsor of one of the amendments. In a press release issued this evening Manchin expressed disappointment that neither side could come together to pass the bill.
“I am disappointed that the first attempt to repeal the 1099 requirement from Health Care reform failed,” Manchin said. “We must lift the heavy paperwork burden off the backs of our nation’s small business owners so that they can focus on what they do best – create jobs. Whether this year or next, I am committed to working with Republicans and Democrats who share my concern for jobs and small businesses and the need to repeal this provision from health care reform.”
The 1099 requirement doesn’t go into effect into January 2012. More amendments are expected soon to eliminate the provision. The amendment, had it been passed, would have been added to the FDA Food Safety Modernization Act. Some lawmakers frowned on adding the amendment to that piece of legislation
- Supporting Small Businesses in the Senate (whitehouse.gov)
- Repeal of Health Law’s ‘Onerous’ Business-Expenses Rule Fails – Bloomberg (news.google.com)
- How Republicans Can Repeal Health Reform (politics.usnews.com)
Posted under Congress, Federal, Finances, Legislation, News, Politics, Regulations, Tax Reform, Transparency, U.S. Senate.
Tags: 1099, Business, Democratic, Health Care Reform, IRS tax forms, Joe Manchin, New York Times, Republican, United States Senate
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