Burr Praises Passage of Legislation to Repeal Burdensome Health Care Law Provision on Small Businesses
Today, U.S. Senator Richard Burr (R-North Carolina) voted to repeal the provision of the new health care law requiring all businesses to submit 1099 tax forms for everybusiness transaction greater than $600 in a given year. The Senate overwhelmingly passed this legislation by a vote of 87-12."The last thing North Carolina small businesses need right now are even more burdensome provisions that hinder their growth and ability to hire new employees," Burr said. "Unfortunately, the onerous 1099 IRS reporting requirement is but one of many job-killing mandates under the new health care law. While repeal of this mandate is an important step for small businesses across our nation, we must continue to work to fully repeal this law and replace it with commonsense health care reforms."
The Senate today passed H.R.4, a bill passed last month by the House of Representatives that does not increase federal spending or add to our nation's debt. Senator Burr is a cosponsor of the Senate version of this legislation, S. 359, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011.
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