Small Business Relieved as President 86es 1099 Provision
Statement by John Arensmeyer, CEO, Small Business Majority:
Today President Obama signed legislation fixing the 1099 reporting requirement in the Affordable Care Act. Small business owners can now breathe a sigh of relief knowing that the huge paperwork burden the provision would have created will never come to fruition.
The Affordable Care Act provides many benefits to small businesses, but the 1099 reporting requirement wasn't one of them. It would have forced small business owners to spend precious time and resources complying with a requirement that they fill out a 1099 form for any goods or services over $600. A strong and unified coalition of business owners and organizations across the political spectrum worked tirelessly to have the 1099 provision fixed, and though it took time to work out a final agreement, we can now put this issue to rest once and for all.
Today's victory is an example of how we can all work together on policies that affect America's 28 million small businesses. We look forward to focusing our efforts now on smooth implementation of the Affordable Care Act so small businesses receive all of the relief it provides.
Small Business Majority is a national nonpartisan small business advocacy 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 small business voices to the public policy table.