Republican congressional candidate Mariannette Miller-Meeks today called on Rep. David Loebsack to support a repeal of a provision in the new health-care law that will require small businesses to report purchases over $600.
"Make no mistake about it: I'm opposed to Obamacare's entire overreaching into our personal lives and into small businesses. But a good place to start the process of righting its wrongs is by getting rid of this excuse for an already intrusive Internal Revenue Service to pile onto small businesses," Miller-Meeks said.
Recent news reports note that momentum is building to change or repeal one of the revenue sources that congressional Democrats put into the legislation. Starting next year, businesses will be required to file 1099 tax forms reporting any purchases of goods and services over $600 from any individual, business or corporation. Currently, businesses only need to file those forms when they buy services from an unincorporated person or business. Democrats say the move will raise $17.1 billion from tax evaders over the next 10 years but small business groups say it will be extremely time-consuming and expensive.
"The IRS says more than 40 million businesses, including 26 million sole proprietors, will be affected by this ridiculous law. It treats business owners like they're all lawbreakers, which is just plain wrong," Miller-Meeks said. "Experts say there's no guarantee all that extra paperwork will raise more taxes because of the time and effort it would take to compare the millions of tax returns with all the different 1099 tax forms. But what we do know is that it is likely to take income and employees from smaller rural businesses because companies will consolidate their vendors."
She continued, "David Loebsack is supposed to be working for us but he acts like Iowa businesses are supposed to work for the federal government," Miller-Meeks said. "I know most members of Congress didn't read the health-care bill before they voted for it but now that he knows this provision is in it, he should move immediately to get rid of it. And, he should also promise Iowans he'll actually read legislation like this before he votes on it the rest of this year."