Small Business Bill Moves Forward, 1099 Amendments Falter
Today, the Senate voted to move forward to a final, majority-rules vote on the Small Business Jobs Act. Sen. George Voinovich (R-Ohio), who is retiring this year, crossed the aisle to break a Republican filibuster of the bill, which has been held up in the upper chamber since June.
Democrats applauded. “When we help small businesses, we help to get Americans back to work,” Sen. Max Baucus (Mont.) said in a statement, for instance. “This is exactly the kind of targeted, job-creating legislation that folks in Montana and across the country are urging us to enact. This bill creates the right conditions right now to help small businesses create jobs by spurring investment and entrepreneurship with tax cuts and improved access to capital.” And they had special praise for Voinovich.
However, two competing amendments to end a tax-reporting requirement that might prove onerous for small businesses failed to pass. Both Democrats and Republicans want to drop the “1099″ requirement, created in the health-care law, but cannot agree on how to pay for it.