Political Quotes

“Mr. President, I rise today to express my strong support for repealing the 1099 tax form requirement enacted in the Affordable Care Act. This requirement is burdensome for businesses in Maryland, especially small businesses. The 1099 tax provision requires businesses to report information on anyone they pay $600 or more to for goods in a year. Businesses will also have to send copies of the form to their vendors, suppliers and contractors. This requirement is costly and burdensome to businesses. Although I agree that we must ease the hassle faced by businesses, we must be careful about how we pay for this. The Johanns amendment to the Small Business Jobs and Credit Act repeals the new 1099 tax reporting requirement, yet could end up increasing health care costs and cost small businesses even more as a result of higher health expenditures. The Johanns amendment eliminates funding for prevention programs such as providing immunizations and screenings for diseases like cancer, heart disease, and diabetes. By catching diseases earlier and reducing the incidence of chronic disease, prevention programs lead to cost savings which lower the cost of health insurance for small businesses. That is why I support the Nelson amendment which provides a more affordable alternative. The Nelson amendment reduces the burden faced by businesses by eliminating the 1099 reporting requirement all together for businesses with 25 employees or less.…”