Congressman Cantor on Repealing the 1099 Reporting Requirement for Small Businesses

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WASHINGTON, D.C. – Congressman Eric Cantor (VA-07) today issued the following statement regarding the House Ways and Means Committee action on 1099 repeal:

“Like most Americans, Republicans agree that the ObamaCare law is inherently flawed, harmful and must be repealed, and that is why our first action as a new Majority was to do just that. Nearly every small business person I meet says that one of the most damaging provisions in the new law is the 1099 rule that forces them to issue burdensome tax forms with each vendor that they work with exceeding $600 dollars. This needless tax compliance mandate bogs down businesses small and large in paperwork, creating yet another hoop for them to jump through, instead of allowing them to focus on growing their business and creating jobs. Repealing 1099 will provide small businesses with much needed relief, and we hope to bring it to the floor this spring.

"Today’s Ways and Means Committee markup is part of our larger effort to use every tool at our disposal to remove barriers to economic growth – including repealing ObamaCare – so that people can get back to work and we can start to get our fiscal house in order. I applaud Chairman Camp and the Committee for their efforts on this important issue."


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