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Posted by: thepinetree on 02/17/2011 03:49 PM
Updated by: thepinetree on 02/17/2011 03:49 PM
Expires: 01/01/2016 12:00 AM
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Lungren 1099 Bill Moves Closer to Final Passage
Washington, DC – Today, the Committee on Ways and Means approved a bill introduced by Congressman Dan Lungren (R-CA), H.R. 4 - The Small Business Paperwork Mandate Elimination Act of 2011. This bill will repeal the burdensome 1099 reporting provision enacted in 2010. Congressman Lungren gave the following statement upon hearing the news that his bill was one step closer to final passage...
“I was pleased to hear the Ways and Means Committee swiftly marked up my bill and brought it closer to a vote in Congress. Burdening small businesses, who are the real job creators of our economy, with additional tax filing requirements, hinders growth. When I introduced this bill last year, I wanted to remove roadblocks so entrepreneurs could worry about growing their business not keeping their heads above water. Today was a victory. Momentum for passing this bill is on our side.”
H.R. 4, the “Small Business Paperwork Mandate Elimination Act of 2011,” repeals the onerous new Form 1099 information reporting requirements that were imposed on small businesses to help pay for the Democrats’ Health Care bill. More than 175 organizations and small businesses support 1099 repeal.
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