With each passing day, we seem to discover another harmful provision in the health care law.
The business community and some lawmakers are now calling for the repeal of a provision in the law that imposes a mandate on small businesses requiring them to file a 1099 form for every company transaction exceeding $600.
More on this at Politico:
Momentum is swinging toward altering the so-called 1099 provision in the reform law, which requires small businesses to file a 1099 form for every company from which they buy more than $600 in good and services. The Treasury department is aware of the business community's concerns that the provision is potentially burdensome and recently asked for formal comments on how to limit it. Four Democratic senators have asked Treasury to look into the problem and several Republicans have signed on to an amendment from Sen. Johanns to repeal the whole provision.
Drafters had hoped the provision would generate $17 billion to help pay for reform. But James Gelfand, director of health policy at the U.S. Chamber of Commerce, says he's rarely seen an issue on which members are so strongly united in opposition, calling them "apoplectic" over the provision. An administration source tells Pulse that the comments from the business community are "obviously something we take seriously" and that there's been significant outreach to them. Treasury has already made one change: Transactions on credit and debit cards won't have to reported on a 1099.
Drafters had hoped the provision would generate $17 billion to help pay for reform. But James Gelfand, director of health policy at the U.S. Chamber of Commerce, says he's rarely seen an issue on which members are so strongly united in opposition, calling them "apoplectic" over the provision. An administration source tells Pulse that the comments from the business community are "obviously something we take seriously" and that there's been significant outreach to them. Treasury has already made one change: Transactions on credit and debit cards won't have to reported on a 1099.
Please note that the US Chamber is holding an event on Monday, July 26th on the health care law’s impact on small business. Senator Mike Johanns (R-NE) and Doug Holtz-Eakin are two of the featured speakers. More on this event here.
CMPI recently interviewed James Gelfand, the Health Policy Director at the U.S. Chamber of Commerce.
Mr. Gelfand addressed this and other provisions in the bill the US Chamber considers harmful to the business community.
To watch CMPI’s interview with James Gelfand, click here:
James Gelfand Director of Health Policy, US Chamber of Commerce from CMPI on Vimeo.
