Measure to repeal portion of health care bill goes to Senate next week
The GOP could see its first victory in the fight to take down the one-year-old Patient Protection and Affordable Care Act if the Senate votes next week to follow the House’s lead and repeal a tax-reporting requirement for small businesses included in the health care bill, reports Roll Call.
In early March, the House voted 314-112 to pass the Small Business Paperwork Mandate Elimination Act of 2011 (HR 4), which would repeal a reporting rule from the health care act that requires companies to file a 1099 form with the Internal Revenue Service every time they conduct $600 worth of business with a vendor. It would also repeal the new 1099 reporting requirements imposed on taxpayers who receive rental income, according to the Journal of Accountancy.
According to Roll Call, Senate Democrats “have raised concerns over the bill’s method of offsetting revenue that would be lost if the provision is repealed.”
The White House has stated the offset would result in tax increases for certain middle-class taxpayers.