Senate to Vote on 1099 Repeal Next Week

The Senate “set up a vote for Tuesday on a bill that would make the first significant change to President Barack Obama’s signature health care overhaul law,” Roll Call reports.

Under an agreement reached Thursday, the Senate will vote on a House-passed bill that would repeal a tax-reporting requirement included in the health care law. The vote is scheduled to be held before the weekly caucus lunches.

The provision, which requires companies to file a 1099 form with the IRS every time they conduct $600 worth of business with a vendor, has been panned by Members of both parties, but a group of Senate Democrats have raised concerns over the bill’s method of offsetting revenue that would be lost if the provision is repealed.

A Republican aide told The Hill on Thursday night that the measure, H.R. 4, will “likely pass.”

If this House-passed bill “gains approval without being amended the bill goes to President Obama for his signature.”

There is one amendment to the bill being offered by Sen. Robert Menendez (D-N.J.) that would require further study of the effects of the offset proposed by Republicans.

Under a unanimous consent agreement, the Menendez amendment would need 60 votes to pass.


Leave a comment

Filed under Health, Taxes

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s