Senate Votes to Repeal 1099 Tax Provision of ACA, Sends Bill to President

The Senate has voted to repeal one of the most egregious provisions of the Affordable Care Act known as the “1099 Tax Reporting” provision by a wide bipartisan margin of 87-12, sending the bill to the President for his signature.  The 1099 provision would have raised $19B over 10 years by forcing small businesses to report any purchase over $600 to a single vendor to the IRS starting in 2012.

The House and Senate had already passed versions of this bill, but disagreed over how to recoup the $19B it was slated to raise for the health care legislation.  More

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