Sen. Max Baucus (D-MT) on Monday introduced a bill to repeal the onerous 1099 reporting requirements included in the Patient Protection and Affordable Health Care Act.
By Mr. BAUCUS (for himself, Mr. BEGICH, Ms. LANDRIEU, Ms. STABENOW, Mrs. SHAHEEN, and Mr. BROWN of Massachusetts):
S. 3946. A bill to repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes; to the Committee on Finance.
Sen. Baucus vowed its repeal in remarks in Missoula last week.
(Missoula, MT) – Montana’s senior U.S. Senator Max Baucus announced plans to introduce legislation to repeal new requirements for businesses to file forms with the IRS reporting payments for goods and services during a meeting in Missoula with state business leaders today. Baucus told Montana business leaders he is working to nullify the provision in response to their concerns the requirement would place too large of a paperwork burden on small businesses.
“I have heard Montana businesses loud and clear and I am responding to their concerns,” Baucus said. “Small businesses are the backbone of our economy, especially in Montana where we have more workers employed by small businesses than anywhere else in the country. Montana businesses need to focus their efforts on growing and creating good-paying jobs – not filing paperwork. Montana businesses have made clear these reporting requirements won’t work for them and it’s my job to fix that. And that is exactly what I’m going to do.”
The Senate already missed an opportunity to repeal the provision in September, when during debate on H.R.5297, the Small Business Jobs and Credit Act, it rejected an amendment from Sen. Mike Johanns (R-NE) to repeal Section 9006 of the new health care law.
The roll call vote shows that Sen. Baucus and the new bill’s cosponsors all voted against invoking cloture on the Johanns amendment. Sen. Landrieu (D-LA) later introduced a bill to change the reporting trigger from $600 to $5,000.