House Overwhelmingly Passes Bipartisan 1099 Repeal Legislation
Washington, DC – Ways and Means Committee Chairman Dave Camp (R-MI) made the following statement upon passage of H.R. 4 to repeal the 1099 IRS reporting provisions enacted in 2010.
“Clearly there is strong, bipartisan support to repeal the 1099 provisions so that small businesses can focus on what they do best – creating jobs. With more than 70 percent of the House, including 76 Democrats voting for repeal of the 1099 provisions, I urge the Senate to move quickly to take up and pass this legislation so we can send a bipartisan bill to the President.”
- H.R. 4 vote: 314-112 (238 Republicans and 76 Democrats)
- H.R. 4 is supported by more than 225 organizations including small businesses and taxpayer advocates.
- H.R. 4 will:
- Repeal the burdensome 1099 tax reporting provision included in the Democrats’ health care law;
- Repeal additional 1099 reporting requirements that Democrats placed on owners of certain rental properties last year; and
- Save taxpayers $20 billion over the next 10 years, while also reducing the deficit by more than $166 million over that time period and by billions more in the following years.