Tuesday, November 30, 2010

1099 Repeal Vote Fails

It appears that the 1099 issue will not be resolved in the lame duck session.

Last night both the Johanns and Baucus amendments repealing the requirement of 1099s for all business transaction over $600 was voted down. The vote on the Johann amendment failed on a 61-35 vote and the Baucus amendment failed 44-53. The amendments required a two thirds vote because it was a waiving of Senate rules.

The Johanns amendment paid for the repeal with unused stimulus money, while the Baucus amendment had no offsets.

Small Business California and the National Small Business Association will continue to fight this in the next session of Congress. As you are all aware the requirement does not take effect until 2012.

Scott Hauge
Small Business California
2311 Taraval Street
San Francisco, CA 94116

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