Tuesday, 22 February 2011 05:13

Lungren’s 1099 paperwork reduction bill is “poised for passage”

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slide2-lungrens_1099_paperwork_reduction_bill_is_poised_for_passage_.pngAmador County – A bill first introduced last year by Congressman Dan Lungren was approved and sent forth from the Ways & Means Committee last week, and with 270 supporters in the House of Representatives, potentially moving it closer to final approval.

Senior Field Representative Robert Ehlert announced in an e-mail Thursday that the bill is “poised for passage.”

The bill, which would repeal part of the Health Care Reform Bill, and repeal legislation that requires 1099 tax filings with the Internal Revenue Service by businesses and non-profit organizations for purchases of good or services in amounts larger than $600.

Last Thursday (Feb. 17), the Committee on Ways and Means approved the bill introduced by Congressman Dan Lungren (R-CA). The bill is titled: “H.R. 4 – The Small Business Paperwork Mandate Elimination Act of 2011.” The bill was first submitted last year, then resubmitted again this session, after growing support, including support from Democrats.

Ehlert said the “bill will repeal the burdensome 1099 reporting provision enacted in 2010,” and he issued a statement from Lungren upon his “hearing the news that his bill was one step closer to final passage.”

Lungren said: “I was pleased to hear the Ways & 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.”

He said: “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.”

Ehlert said Lungren’s bill “repeals the onerous new Form 1099 information reporting requirements that were imposed on small businesses to help pay for the Democrats’ Health Care bill.” He said more than 175 organizations and small businesses support the 1099 repeal.

Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.

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