November 30, 2010
Manchin cosponsored the amendment to help small businesses and reform health care
Manchin Disappointed Amendments to Repeal 1099 Forms for Small Businesses Fail
Manchin cosponsored the amendment to help small businesses and reform health care
Washington, D.C. – Senator Joe Manchin was disappointed that two attempts to repeal the 1099 provision from health care reform, including one amendment he cosponsored, failed to win enough support to move forward. The amendments (Johanns amendment 4702 and Baucus amendment 4713) would have repealed one of the health care reform’s requirements for small businesses to file 1099 forms with the IRS on payments made for goods and services more than $600.
“I am disappointed that the first attempt to repeal the 1099 requirement from Health Care reform failed,” Manchin said. “We must lift the heavy paperwork burden off the backs of our nation’s small business owners so that they can focus on what they do best – create jobs. Whether this year or next, I am committed to working with Republicans and Democrats who share my concern for jobs and small businesses and the need to repeal this provision from health care reform.”
Background
Each measure was introduced as a amendment to the FDA Food Safety Modernization Act; however, needing 67 vote threshold to move forward, the measures failed by a vote of 61 to 35, and 44 to 53 respectively.
Form 1099 indicates how much money businesses pay to corporations and was designed to keep track of tax liability. According to the Senate Finance Committee, after health care reform was signed into law, more business owners became aware of the new paperwork requirements and raised concerns about the resources required in January 2012 to complete the forms, when the policy was set to go into effect. The Baucus amendment, which Senator Manchin cosponsored, would have repealed those provisions to relieve the paperwork burden placed on small businesses and any business which is required to complete a 1099 form.
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“I am disappointed that the first attempt to repeal the 1099 requirement from Health Care reform failed,” Manchin said. “We must lift the heavy paperwork burden off the backs of our nation’s small business owners so that they can focus on what they do best – create jobs. Whether this year or next, I am committed to working with Republicans and Democrats who share my concern for jobs and small businesses and the need to repeal this provision from health care reform.”
Background
Each measure was introduced as a amendment to the FDA Food Safety Modernization Act; however, needing 67 vote threshold to move forward, the measures failed by a vote of 61 to 35, and 44 to 53 respectively.
Form 1099 indicates how much money businesses pay to corporations and was designed to keep track of tax liability. According to the Senate Finance Committee, after health care reform was signed into law, more business owners became aware of the new paperwork requirements and raised concerns about the resources required in January 2012 to complete the forms, when the policy was set to go into effect. The Baucus amendment, which Senator Manchin cosponsored, would have repealed those provisions to relieve the paperwork burden placed on small businesses and any business which is required to complete a 1099 form.
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