Murkowski Backs Health Care Reform Fix For Small Businesses
WASHINGTON, D.C. - U.S. Sen. Lisa Murkowski, R-Alaska voted to repeal the 1099 tax reporting mandate - a portion of the Patient Protection and Affordable Care Act that forced small businesses to file IRS tax forms when any business transaction passes a $600 threshold.
"It shouldn't take seven Senate votes to rip up paperwork and speed up our economic recovery; this was a must for Alaska's small businesses," Murkowski said. "With the challenges facing our business community, both statewide and nationwide, we don't need to create new burdens for them. I hope doing so clears the way for a store on Sterling Highway, an Anchorage restaurant and any Alaska small business owner buried under needless paperwork and red tape."
The U.S. Senate voted 87-12 in favor of repealing the tax reporting requirement. The repeal is now on its way to the President, who has indicated he will support the measure.