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Public Statements

Making the 1099 Situation Worse

Floor Speech

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Date:
Location: Washington, DC

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(Mr. PITTS asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. PITTS. Mr. Speaker, throughout the month of August, I met with small business owners in my district who are anxious about the coming 1099 reporting requirements created by ObamaCare. They see a mountain of tax paperwork in their future, a mountain that will increase their accounting costs and prevent them from growing their businesses.

The 1099 reporting requirement has nothing to do with improving health care in this Nation. It was only included as another revenue raiser to pay for a massive new government health care entitlement program that the American people don't want.

H.R. 5297, the small business bill the House will take up tomorrow, makes a bad situation even worse. Instead of repealing this burdensome requirement, the bill actually increases penalties and expands the number of transactions subject then to 1099 reporting requirements. The Congressional Budget Office estimates this proposal will raise over $2.5 billion. That's $2.5 billion that will go to the government instead of job creators.

How long will it take our friends on the other side to figure out you can't increase the burden on our Nation's small businesses and then expect them to hire more Americans?

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