Senate passes repeal of 1099 reporting rule for businesses

04/5/2011 | Wall Street Journal, The

The Senate on Tuesday voted 87-12 to repeal a provision of last year's health-care law that would have required businesses to submit a Form 1099 for every vendor they pay $600 or more a year. Democrats and Republicans agreed that the new reporting requirement would be too expensive and time-consuming. Small businesses said the requirement would have been especially burdensome for them.

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