Cochran co-sponsors bill to kill healthcare reform provision
by For the MBJ
Published: April 6,2011
WASHINGTON — U.S. Sen. Thad Cochran (R-Miss.) voted to repeal a section of the year-old healthcare reform law that would have required businesses, local governments, churches and charities to file Internal Revenue Service (IRS) 1099 forms for transactions totaling more than $600 a year.
The Senate voted 87-12 April 5 to fully repeal the IRS 1099 reporting requirement that was signed into law in March 2010 as part of the Patient Protection and Affordable Care Act. The repeal legislation (HR.4) will now be sent to President Obama.
“Overturning this mandate on small businesses and local governments will eliminate the burden on them to spend valuable time and resources reporting to the IRS. This mandate should not have been part of the healthcare reform process in the first place,” Cochran said.
“The repeal of the IRS 1099 reporting requirements is just the first of many steps Congress must take to turn back the serious flaws in the healthcare reform law.”
Without a congressional repeal, businesses, local governments, churches and charities would have been compelled to issue IRS 1099 tax forms to individuals, corporations or contract workers from which they purchased more than $600 in goods or services in a tax year, Cochran said. This year, Cochran co-sponsored similar Senate legislation and amendments offered by Sen. Mike Johanns (R-Neb.) to repeal the 1099 provision from the healthcare reform law.
The Senate this week also could consider an amendment co-sponsored by Cochran to stop implementation of the healthcare reform law at federal and state levels until there is a final judicial resolution of lawsuits challenging its constitutionality. The amendment is currently pending as part of the Senate debate on the Small Business Innovation and Research/Small Business Technology Transfer Program Reauthorization Bill (S.493). The State of Mississippi is party to one of the major suits against the healthcare reform law.
Since the start of the 112th Congress in January, Cochran has co-sponsored a number of measures related to the Affordable Care Act. He co-sponsored the Repeal the Job-Killing Health Care Law Act (S.192) to completely overturn the Affordable Care Act and the healthcare-related sections of the subsequent Health Care and Education Reconciliation Act (PL.111-152). He also signed onto three other measures (S.18, S.19 and S.20) to repeal certain provisions of the law, including employer and individual mandates regarding health insurance coverage.
Source: Sen. Thad Cochran
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Cochran co-sponsors bill to kill healthcare reform provision”
Top Posts & Pages
- Expert on airlines predicts Jackson-Evers will keep remaining carriers
- Keeping our eye on... Liz Lancaster
- GOP Sen. Thad Cochran to run for seventh term
- IKE TROTTER: There are primary changes in Social Security for 2014
- MAN OF STEEL: Madhu Ranade leading Severstal Columbus
- C Spire launches next phase of 1-gig service rollout
- Alcorn's finances being investigated; CFO resigns
- NEW ORLEANS SAINTS MOVING — Mississippi company has the task of moving the football team
- Hood issues opinion on open-carry gun law
- Court to hear case involving alligators and ExxonMobil