Senate Likely To Vote Wednesday On 1099 Provision Repeal
The measure is being offered as an amendment to a small-business bill being considered this week. It could be voted on as soon as Wednesday morning and, if passed, go straight to President Obama for his signature.
Bloomberg: Senate Delays Vote On Repealing Tax-Compliance Requirement
The U.S. Senate delayed a vote today on repealing a tax-compliance measure included in last year's health-care overhaul. Majority Leader Harry Reid had said this morning that the Senate was in "good shape" to resolve debate over the so-called 1099 requirement in the afternoon. Discussion of the repeal will continue, and Senate leaders are prepared to hold a vote as soon as tomorrow. The repeal is being attached as an amendment to a small-business bill that the Senate is considering this week. The measure would offset the repeal using a method already approved by the House of Representatives and criticized by Democrats in the Senate, raising questions about its fate (Sloan and Rubin, 3/29).
National Journal: Senate Preparing To Vote On 1099-Repeal Provision
The Senate inched closer to a repeal of a much-maligned 1099 tax-reporting provision on Tuesday evening, with a potential agreement that could send the bill straight to President Obama's desk. The chamber could vote Wednesday morning on an amendment from Sen. Mike Johanns, R-Neb., on the small-business bill currently on the Senate floor. If the Johanns amendment passes, the Senate could then use a procedural maneuver to "deem" an identical House 1099-repeal measure, as also passing the Senate. That maneuver would send the bill to the president (3/29).