Camp Hails Passage of 1099 Repeal Legislation
Washington, DC – Today, Ways and Means Committee Chairman Dave Camp (R-MI) issued the following statement upon passage of H.R. 4 – the House-passed 1099 repeal legislation:
“The 1099 IRS reporting provision enacted in the Democrats’ 2010 health law quickly became the poster child for a government that is too big, too intrusive and too out of touch with small businesses. After a nearly year-long battle, today’s vote is a major victory for America’s small businesses and the workers they employ. The Senate made the right choice in passing the bipartisan, common sense solution crafted by the House. The President should sign this into law immediately and work with us to find other ways to reduce the heavy burden of federal mandates, regulations and paperwork that takes employers’ time, energy and resources away from creating jobs.”
BACKGROUND: While both the Senate and House proposed competing versions of repeal legislation in the last Congress, the two Democratic-led bodies were never able to agree on a unified solution to provide small businesses with much-needed relief. H.R. 4, introduced by Congressman Dan Lungren (R-CA), incorporated new language authored by Chairman Camp (R-MI), that:
- Repeals the onerous new Form 1099 information reporting requirements that were imposed on small businesses to pay for the Democrats’ health care law;
- Repeals an additional Form 1099 information reporting requirement on owners of rental real estate; and
- Reduces improper overpayments of Exchange subsidies established under the Democrats’ health care law.
Upon final passage in the House, the Lungren-Camp 1099 repeal received 314 votes in the House – including 76 Democrats – and passed the Senate today with a bipartisan vote of 87 to 12.