Alexander Cosponsors Bipartisan Amendment to Protect 40 Million Small Businesses from “Yet Another Job-Killing Washington Mandate”
Says Administration’s Policies Have “Put a Big Wet Blanket Over the American Economy and Job Creation”
Posted on September 14, 2010
WASHINGTON – U.S. Senator Lamar Alexander (R-Tenn.) announced today that he cosponsored and voted in favor of an amendment to the Small Business Lending bill that would repeal a section of the new health care law that requires all businesses (large and small) to submit 1099 tax forms for every business transaction greater than $600 in a given year, including routine expenses like the purchase of office supplies. This provision, if allowed to go into effect in 2012, would affect more than 40 million American businesses, including 26 million sole proprietorships, according to the National Taxpayer Advocate Service, an Internal Revenue Service (IRS) ombudsman.
“The policies of the Obama Administration and its allies in Congress have put a big wet blanket over the American economy and job creation. Forty million small businesses can’t afford to spend valuable time and resources complying with yet another job-killing Washington mandate to fill out a separate tax form for every phone bill, every rent check, and every utility payment over $600. Adding IRS red tape to small businesses is never a good idea – but it’s especially bad policy during a recession with nearly 10 percent of Americans out of work.”
The bipartisan amendment was based on S. 3578, “The Small Business Paperwork Mandate Elimination Act,” which was introduced by Senator Mike Johanns (R-Neb.) on July 14th and has 24 cosponsors, including Alexander. The Senate voted today on whether to end debate and proceed to a final vote on the amendment. That effort failed by a vote of 46-52, with 60 votes required under the Senate Rules.
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