Vote is scheduled today on 1099 Repeal in U.S. Senate...bill could go to President Obama's desk with 60 votes
As part of the small business research legislation being debated today, the U.S. Senate will vote on the House-passed bill to fully repeal the expanded 1099 reporting mandate that is in the new health care law (Patient Protection and Affordable Care Act). The vote on H.R. 4 also repeals the expanded 1099 reporting requirement for rental property that was advanced as part of the "small business jobs act" in September 2010.
Many of you have been calling your U.S. Senators urging that they vote for H.R. 4 - THANK YOU! We have the opportunity to fully rid small business owners of this paperwork nightmare if 60 Senators vote for H.R. 4. The bill would then go to President Obama's desk for his signature.
However, and as we note below in our KEY VOTE letter to all U.S. Senators, an alternative amendment is being offered to counter H.R. 4 - the Menendez amendment. This amendment would "study the issue" before moving to repeal. What's there to study? The expanded 1099 reporting mandate will be a paperwork nightmare for America's small business owners.
Calls are still needed to the Senate: If you have not done so yet, please call your U.S. Senators using the Capitol Hill switchboard at 202-224-3121, and urge them to vote for H.R. 4 - the 1099 repeal bill, and against the Menendez amendment, which will not relieve small business owners of the massive paperwork requirement stemming from the new health care law.
For those of you who have responded to our action request - THANK YOU!
TEXT OF SBE COUNCIL's KEY VOTE LETTER to the U.S. Senate:
KEY VOTE ALERT: Support Small Business Jobs and Growth
Vote for H.R. 4 to Repeal the Costly 1099 Paperwork Burden
April 4, 2011
Dear United States Senator:
On behalf of the Small Business and Entrepreneurship Council (SBE Council) and its nearly 100,000 members nationwide, I urge you to vote for H.R. 4, the "Small Business Paperwork Mandate Elimination Act of 2011," and to oppose the Menendez Amendment.
Passing H.R. 4 is the only solution that will help protect small business owners from the crushing paperwork burden that has been spawned by Section 9006 of the Patient Protection and Affordable Care Act (PPACA).
The expanded reporting mandate in PPACA mandates that small business owners file a 1099-MISC to the Internal Revenue Service (IRS) for all payments made to vendors totaling $600 or more in a tax year. This unreasonable reporting mandate will vastly increase costs and paperwork burden for small business owners. Entrepreneurs will be forced to devote significant time and resources on tedious compliance activity, which will serve as a drag on business growth and competitiveness.
SBE Council will KEY VOTE H.R. 4 for our Small Business Ratings of the 112th Congress. A vote for H.R. 4 is a vote for our nation's entrepreneurs.
SBE Council believes the Menendez amendment would prolong uncertainty and force small business owners to expend resources in preparation for potential compliance in 2012. Does it really take a government study to understand the obvious burden this massive compliance mandate places on small business owners and our economy? Small business owners oppose anything less than complete, immediate and certain repeal of Section 9006 of PPACA.
SBE Council surveys of member companies found that the 1099 reporting mandate will increase the paperwork burden by more than 1000 percent for some firms, while accounting costs will double and quadruple in many cases. Business owners report that they will cut jobs, raise prices and be forced to devote more of their personal time to mind-numbing paperwork rather than growing their firms.
Please stand with small business and vote for H.R. 4. Thank you, in advance, for your support of America's small business owners and entrepreneurs.
Karen Kerrigan, President & CEO
We can repeal the paperwork nightmare -- today! Please call your Senators at 202-224-3121. Tell them voting for H.R. 4 is the only solution to relieve small business owners from the massive paperwork burden created by the new health care law!
Karen Kerrigan, President & CEO