News Date: 04/05/2011
The Senate passed a bill today, authored by Sen. Mike Johanns (R-NE), which repeals the provision of the health care law that would require business owners to file a 1099 IRS form for each vendor with whom at least $600 in transactions is made. The bill passed the Senate by a vote of 87-12 and now heads to President Obama's desk. The President has not indicated that he will veto the bill, although he disagrees with the method by which the repeal is offset. The pay-for in Sen. Johanns' bill is identical to that which passed the House recently, which would require consumers to repay insurance exchange subsidies if their earnings went over the amount of 400% of the federal poverty level. (Contact: Brad McKinney)
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