The US Senate voted to repeal the onerous 1099 provision that would have burdened businesses to report to the IRS any purchases of goods and services over $600 a year from another business or individual. The repeal enjoyed broad bipartisan support, passing 81-17, but all 17 opposing were Democrats (or Bernie Saunders), including NY Senators Gillibrand and Schumer.
The 1099 measure was designed to help capture income to balance the overall health care reform package (Patient Protection and Affordable Care Act; PPACA of 2010). The repeal provided some adjustments in how the OMB should cut unnecessary unobligated spending (discretionary spending) to reflect the adjustment in revenues expected and due.
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