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Menendez predicts tax form provision in health reform law will fall

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While Republicans are pushing for a full repeal of the federal health reform law, U.S. Sen. Robert Menendez, a New Jersey Democrat, expects Congress to kill one provision.

Robert Menendez

Menendez, who represents Hoboken, said the new provision requiring all businesses to send out 1099 tax forms if they purchase more than $600 annually in goods, not just services from individuals or corporations, will be dropped by Congress, according to NJbiz.com.

“It will be repealed,” Menendez said, according to the publication, while speaking at PTC Therapeutics in South Plainfield, N.J.

Business owners have decried the provision, saying it will greatly increase the amount of paperwork they must complete at a time when many businesses have been forced to cut staff. Previously, only companies buying services of $600 or more had to file the paperwork.

Earlier this year, the Obama Administration delayed implementation until the 2011 tax year another provision that upset businesses. That provision requires all businesses to report the value of an employee’s health plan on tax forms.

Democrats, faced with a new Republican majority in the U.S. House of Representatives, appear to be backpedaling on parts of the health reform, hoping to prevent a complete repeal.


Menendez predicts tax form provision in health reform law will fall via IFAwebnews .


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