Senate fails small-business owners on 1099 reform

[thundley4]

Two separate amendments to reform the 1099 reporting requirements in the health-care bill failed today. I imagine that sentence doesn't mean much to you. But it's a bad thing.

The 1099 reporting requirement raises $17 billion in the health-care bill. It says that businesses have to report every purchase from every vendor above $600. Those purchases currently go unreported, and taxes related to them often go unpaid. Tracking them will fix that, and the government will collect some much-needed coin.

But getting there will require a lot of paperwork. Enough, actually, that many people on both sides of the aisle are convinced it's simply not worth it. And they're right. Making the lives of small-business owners miserable isn't a good idea. Some Democrats resist the idea of changing the health-care bill this soon, but any large piece of legislation will need tweaks and modifications as it gets implemented. Making the bill work well is much more important than avoiding a bad headline or two.

The Senate considered two different proposals to reform that law today. One, from Bill Nelson, would've exempted purchases of less than $5,000 (which is 90 percent of them) and paid for the lost revenue by cutting oil and gas subsidies. Another, by Mike Johanns, would've repealed the provision entirely and paid for it by cutting spending on public health and weakening the individual mandate. Both failed. Nelson got a majority, but his 56 votes weren't 60 votes, and so they were meaningless. Johanns got only 46 votes.

WaPo

The big problem that some Demonrats were afraid of?  That this would open the floodgates to changing other provisions of HCR. I can see November very clearly.

[JohnnyReb]

Makes me glad that I'm not in business any more.... ...because there ain't a "piss on the democrats" smilie face.

[AllosaursRus]

I got news for these asshats, from this point forward, the Ranch and our various private contractors will now start dealin' on a cash basis! **** 'em!

This is insane! Just the paperwork involved, the stinkin' bureaucracy they have "invented" to follow it, costs the taxpayer more than the revenue they say they are entitled to and want to collect!

Lets see how they do with none!!!!!!!!!!!!

****in' gubmint leaches!!! Another reason we had to pass this BS "Bill" in order to find out what was in it! I want to know what congress critter, "thought", ( I know, I know, a contradiction in terms ), this was a good idea!!!!! I say we lynch him/her! I want names!!!!

[Eupher]

Well, you can start with Nancy Pelosi.    

[AllosaursRus]

Well, you can start with Nancy Pelosi.    

That's a given! I want to know who was in on these "closed door" meetings they had. You know, the ones where repubs were not even invited for input?