U.S. Senator Claire McCaskill is once again co-sponsoring bipartisan legislation to repeal the burdensome 1099 tax reporting requirement included in the healthcare law. The Small Business Paperwork Mandate Elimination Act, introduced by Senator Mike Johanns (R-NE), would eliminate the new requirement that businesses file forms to the IRS for every vendor with which they have at least $600 in transactions for purchases of goods. This provision created unnecessary costs and an unmanageable amount of paperwork for small businesses and has been one that both Republicans and Democrats quickly recognized needs to be changed.
“Removing this provision is an important way to support our small businesses as they focus on job creation, while opening a meaningful debate as to how we can improve our new healthcare law,” McCaskill said. “Because the law isn’t perfect, we can and will continue to improve parts to ensure it works for the American people.”
McCaskill has supported a repeal of the 1099 reporting provision that does not add to the deficit since last year, first cosponsoring a repeal provision offered by Senator Mark Begich (D-AK) and voting for a proposal by Senator Ben Nelson (D-NE). She also voted for a Johanns amendment that is identical to the newly proposed bill.
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