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April 05, 2011 at 10:30 AM
The U.S. Senate on Tuesday approved by a vote of 87-12 HR 4, a bill already approved by the House that would repeal a part of President Barack Obama’s healthcare reform law. That part of the law required all employers to file separate 1099 forms with the IRS beginning in 2012 for any payments to vendors in excess of $600, not just to independent contractors. The provision requiring that filing — section 9006 of the Patient Protection and Affordable Care Act — has been roundly criticized by small business groups across the political spectrum.
In his State of the Union address on Jan. 25, Obama addressed his landmark healthcare legislation, saying he was open to making adjustments: “We can start right now by correcting a flaw in the legislation that has placed an unnecessary bookkeeping burden on small businesses.”
The bill had bipartisan support and 274 cosponsors in the House. It is also blessedly short, with the title—The Small Business Paperwork Mandate Elimination Act of 2011—running almost as long as the full text of the bill:
