Senate's 1099 Fix a Triumph for Small Business
Statement by John Arensmeyer, CEO, Small Business Majority:
The Senate's passage today of legislation fixing the 1099 reporting requirement in the Patient Protection and Affordable Care Act is a huge victory for small business owners worried about the burden this provision would create. After months of debate, lawmakers should be applauded for their bipartisan efforts to fix this unnecessary provision. Once the president signs the legislation it will allow entrepreneurs to focus on what they do best, creating jobs and growing our economy.
The Affordable Care Act has many benefits for small businesses, but the 1099 provision wasn't one of them. Included in the law only as a revenue-generating measure, this reporting requirement would have mired small business owners in paperwork and forced them to spend valuable time and resources. Both the House and Senate have taken up measures to address this issue, and today's Senate vote will allow President Obama to put this issue to rest once and for all.
Now we can concentrate on smoothly implementing the healthcare law so small business owners can take advantage of the many benefits it provides.
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.