Senate Passes Measure to Eliminate 1099 Requirement in the Federal Health Care Law
WASHINGTON, D.C. – Sen. John Hoeven today issued the following statement in response to the United States Senate’s passage of the Stabenow amendment to the Federal Aviation Administration’s reauthorization bill. The measure, which passed on the Senate floor by an 81 to 17 vote, will eliminate the 1099 reporting requirement in the federal health care bill. Hoeven cosponsored a similar bill advanced by Nebraska Sen. Mike Johanns.
“Eliminating this measure will remove both the expense and bureaucratic burden of this mandate from America’s 17 million small businesses, freeing them to do what they do best, which is create jobs and new opportunities,” Hoeven said. “At a time when our nation is in urgent need of job creation, we must reduce the burden on American businesses and make sure they have a tax and regulatory climate that promotes economic growth and hiring.”
Section 9006 of the Patient Protection and Affordable Care Act mandates that every business, charity, and local and state government entity submit 1099 forms for business transactions totaling $600 or more in a given year.
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