(Washington, DC) – Senator Richard Blumenthal (D-CT) today announced his support for the bipartisan Small Business Paperwork Relief Act, citing concerns of small business owners and manufacturers he met with on his recent listening tour of Connecticut. The legislation – which would repeal new reporting requirements for businesses across the country found in the Affordable Care Act – would alleviate paperwork for the tax form known as a 1099, which requires businesses to report expenses greater than $600 to the IRS.
“I have always said that the health care reform legislation was a good first step, but we must work on improving certain areas. As small business owners across our state struggle to grow their companies in this recovering economy, we must remove barriers to their success,” said Blumenthal. “Traveling across Connecticut, I’ve heard from dozens of entrepreneurs that the 1099 reporting provisions are a burden, and I hope that by working across the aisle on this bipartisan goal, we can eliminate wasteful, excessive paperwork, so that small business owners will be better able to focus on the critically important task of creating jobs.”
Blumenthal is a cosponsor of the Small Business Paperwork Relief Act, introduced by Senator Max Baucus (D – MT). Repeal of the 1099 reporting provisions has been endorsed by the Small Business Administration, the National Federation of Independent Businesses, and the U.S. Chamber of Commerce. The legislation enjoys broad bipartisan support in the Senate; repealing the 1099 provisions will not affect other parts of the Affordable Care Act, which expands vital health care coverage and important benefits to millions of Americans.
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