House Passes Repeal of 1099 Reporting Provisions in the Obamacare Bill

HR 4, the Small Business Paperwork Mandate Elimination Act of 2011, was passed on a largely partisan vote of 314-112. The bill repeals changes to the IRS Code which places the burden on individuals and corporations to file 1099 forms for every transaction with others in excess of $600 within a calendar year. All Republicans voted for it, along with 76 Democrats. The bill proceeds to the Senate.

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