Baucus: Repeal 1099 Filing Rule from ObamaCare
Newsmax
12 Nov 2010
WASHINGTON (Reuters) – A top Democrat in the U.S. Senate on Friday pledged to repeal a provision of the new healthcare law that requires businesses to file tax forms on transactions of more than $600.
Sen. Max Baucus, chairman of that chamber’s tax-writing committee, said he would introduce legislation to repeal that part of the law, which requires filing so-called 1099 forms, after small business groups complained it would become a paperwork nightmare.
Republicans, who won control of the U.S. House of Representatives election and gained seats in the Senate in the recent elections, have vowed to try to repeal the entire healthcare law. They have also sought repeal of the 1099 provision separately.
Baucus noted that the change was originally proposed under former Republican President George W. Bush.
Baucus said he was convinced by business groups’ complaints that it was an administrative burden.
“I have heard small businesses loud and clear and I am responding to their concerns,” Baucus said in a statement.
Read the rest at Newsmax.
JammieWearingFool has some great thoughts about the Senator’s remarks.
