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Rep. Charlie Rangel

January 26, 2011

1099 Repeal

The House voted on July 30, 2010, on HR 5982, which would have repealed the expanded 1099 reporting requirements.

One of the revenue provisions in the health care reform law is an expanded reporting requirement that would have increased business to business information reporting (using form 1099). Repealing the provision in 2010 would result in revenue loss of $19.1 billion. The repeal in HR 5982 was fully paid for through the closing of a number of tax loopholes, including loopholes that incentivize companies to send U.S. jobs overseas.

Repealing the provision in 2011 would result in revenue loss of $21.9 billion.

Because HR 5982 was brought up under suspension of the rules, it needed support of two-thirds of Members to pass.  Unfortunately, it was defeated by Republican opposition:

                        Yeas                Nays            NV

Democratic            239              1                 14

Republican              2                 153              23