In a bipartisan 87 to 12 vote, the U.S. Senate repealed part of the Affordable Care Act that would have required you to file a tax form every time you purchased supplies or equipment that cost more than $600. The House passed the repeal earlier.
“This new requirement was going to be terribly burdensome,” said Julie Reed, ISMA general counsel. “We are pleased that this senseless layer of administrivia has been removed.”
Provision 1099 was intended to help finance new health care programs. The repeal measure now heads to the White House for a signature before becoming law. That shouldn’t be a problem since President Obama has expressed his interest in seeing this flawed provision removed.