Finally 1099 Repeal !

Last Tuesday, the Senate voted 87-12 to approve H.R. 4, which would repeal expanded 1099 reporting requirements included in PPACA and the Small Business Jobs Act of 2010. The Senate voted 41-58 to reject an amendment by Sen. Robert Menendez (D-NJ) related to the offset provision included in H.R. 4.

The bill now goes to President Obama, who is expected to sign it. A White House press statement released after the vote states that “eliminating the 1099 reporting requirement is the right thing to do” and that the President looks forward “to improving the tax credit policy in this legislation to ensure we protect small businesses and middle-class families.” The statement adds that “the Administration remains eager to work with anyone with ideas about how we can make health care better or more affordable for all Americans.” Enactment of the bill will mark the first repeal of a provision of PPACA.

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