Political Quotes

“Mr. President, I rise today to speak about the Johanns amendment that would repeal a provision in the health care reform law that, if not repealed today, will impose significant burdens on small businesses across this country. Repealing this provision has the support of many of my colleagues on both sides of the aisle. Even the President has commented that this provision is onerous on small businesses and warrants immediate adjustment. Starting in 2012, the new health care law will require that all businesses purchasing $600 or more in property or services from another entity, including corporations, must provide the vendor and the Internal Revenue Service with a tax information return. This new government mandate will impose significant burdens on both small and large businesses, and taxpayers' costs will increase as a result of accumulating the information and preparing the tax forms necessary to comply with this expanded mandate. Imagine if you are a freelance writer and you buy a new laptop. Well, now you have to send form 1099 to Apple and to the IRS or be labeled a tax cheat. Oh, and you will need the Apple taxpayer identification number too, so do not forget to ask the salesman for that. This new reporting requirement hits small businesses hardest because they typically do not have in-house accounting departments and have to hire outside help.…”