While many were focused this week on Charlie Sheen, revolts in Libya and other Middle Eastern countries and the budget showdown, Congress was repealing various contentious pieces of Obama’s Healthcare overhaul.
Yesterday, by a vote of 314 to 112, the House voted to repeal a section of the Affordable Care Act that would have required small businesses to file a form 1099 with the IRS when they pay a vendor over $600. Many small businesses and trade organizations representing them have been calling for this section to be removed from the act because they say it is a burdensome, time consuming and taxing.
The Obama administration have said it has no problem letting that provision go, and indeed it is line with the White House’s latest initiative to eliminate other burdensome regulations throughout the federal government.
Rep. Sanford D. Bishop, Jr. (GA-02) released a statement after the House of Representatives voted to repeal the 1099 provision that would have taken effect beginning 2012.
“I have heard complaints from farmers and small business owners across the Second Congressional District who believe that having to file this onerous 1099 form is an unnecessary bureaucratic nightmare that needs to be repealed. Small businesses and farmers are the engines that drive our nation’s economy, and they should focus on creating jobs, not filling out paperwork,” Bishop said. “Now is the time to reduce the obstacles for small business growth, not increase them, and repealing this provision is a good place to start.”
Sanford said that while he supports the 1099 repeal, he is not comfortable with the way the majority Republicans offered to pay for the repeal. The Democrats claimed it would raise taxes on low-income and middle-class families by forcing them to pay the IRS billions of dollars in increased taxes.
Earlier last month, the Senate voted 87-17 on its own version of the repeal that included a different mechanism for offsetting the costs. The White House has expressed concern over how both houses have proposed the repeal gets paid for but will be working with Congress to eliminate it nonetheless once the final kinks are worked out.
Jay Jay Ghatt is also editor at Techyaya.com, founder of the JayJayGhatt.com and JayJayGhatt.com where she teaches online creators how to navigate digital entrepreneurship and offers Do-It-For-You Blogging Service. She manages her lifestyle sites BellyitchBlog, Jenebaspeaks and JJBraids.com and is the founder of BlackWomenTech.com 200 Black Women in Tech On Twitter. Her biz podcast 10 Minute Podcast is available on iTunes and Player.fm. Follow her on Twitter at @Jenebaspeaks. Buy her templates over at her legal and business templates on Etsy shop!
