The unpopular provision would have raised funding for healthcare reform by forcing businesses to file 1099 tax reporting forms for payments of $600 or more, making it easier for the IRS to identify taxes on those payments. Small business in particular complained the reporting would have been onerous.
The bill, which the House already approved, would offset an estimated $21.9 billion in lost income from the provision by requiring consumers to return more of their tax subsidies to purchase health insurance if their income changes during the year and they are eligible for less assistance.
Read the Politico report on here.
Read more coverage on repealing the 1099 provision:
– House Dumps 1099 Tax-Reporting; Differs From Senate Bill
– Senate Quashes Repeal, Then Votes to End Tax-Reporting Requirement
