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Member, Beacon International Group, Ltd.
WASHINGTON—In its first votes this year on the health care reform law, the Senate Wednesday rejected an amendment that would have repealed the health care reform law but approved another amendment to undo a provision in the law that will require employers to furnish 1099 statements whenever they do more than $600 in business with a corporate vendor.
The reform repeal amendment, offered by Senate Minority Leader Mitch McConnell, R-Ky., failed on a 51-47 party-line vote. Under Senate rules, 60 votes were needed for passage of the amendment.
Earlier, the House, where Republicans are substantially in the majority, approved a similar repeal proposal, H.R. 2.
The 1099 repeal amendment, offered by Sen. Debbie Stabenow, D-Mich., enjoyed broad bipartisan support and passed on an 81-17 vote. Small employers have complained that the reporting burden of the new requirement, scheduled to go into effect in 2012, is too great.
“We heard small businesses loud and clear, and today both parties came together in a bipartisan manner to respond to their concerns,” Senate Finance Committee Chairman Max Baucus, D-Mont., said in a statement.
The House has not yet taken up legislation to repeal the 1099 reporting rule.