Senate Vote to Fix 1099 Provision Big Win for Small Businesses
Statement by John Arensmeyer, CEO, Small Business Majority:
The Senate's bipartisan vote today to fix the 1099 reporting requirement in the Patient Protection and Affordable Care Act is the first step toward getting small businesses relief from a provision that would unduly burden already-struggling entrepreneurs. Fixing this provision will allow us to refocus our efforts toward smooth implementation of the law and ensure America's 28 million small businesses receive the myriad benefits it provides.
Provisions in the Affordable Care Act hold great promise for small employers, specifically the small business tax credits and health insurance exchanges, which will lower their healthcare costs and give them the choice they want and need. The 1099 provision, which has nothing to do with healthcare reform and was only included as a revenue-generating measure, would burden small businesses by requiring them to file a 1099 form for the purchase of any good or service over $600.
The small business community has repeatedly called on Congress to fix this provision. We applaud the Senate for its action today and strongly encourage the House of Representatives to follow suit immediately by passing similar legislation that will fully fix this problem.
Small Business Majority is a national nonprofit organization focused on solving the biggest problems facing America's 28 million small businesses. We conduct extensive opinion and economic research and work with small business owners, policy experts and elected officials nationwide to bring nonpartisan small business voices to the public policy table.