Today, Congressman Steve Chabot (R-OH) voted in favor of The Small Business Paperwork Mandate Elimination Act of 2011 (H.R. 4). This legislation, of which Chabot is an original co-sponsor, will repeal the burdensome and onerous paperwork requirements that were created for small businesses as a result of the passage of last year's Patient Protection and Affordable Care Act.
Specifically, the bill would repeal the new 1099 provision of the Patient Protection and Affordable Care Act; would repeal the new 1099 reporting provision that the last Congress placed on owners of certain rental properties; and would enact a taxpayer protection provision that reduces waste, fraud and abuse by forcing greater repayment of improper taxpayer-funded subsidies.
According to the National Federation of Independent Business (NFIB) the newly enacted 1099 reporting requirement will have a "direct negative impact on small businesses," and more than 170 small business organizations throughout the employer community have called for its
Congressman Chabot gave the following statement regarding his vote:
"Small businesses are the backbone of our economy. In the current economic climate, we cannot ask businesses to waste time and resources on filing unnecessary paperwork just so we can fund a job-destroying health care program.
I recently met with small business owners in Cincinnati, and they expressed that one of their greatest concerns is the overbearing government regulations that are causing them to direct resources away from new investments and job creation. The requirements being repealed in H.R. 4 are just the type of requirements business owners are talking about. By eliminating unnecessary paperwork and reducing waste, fraud, and abuse, we are putting ourselves on the right track to putting Americans back to work and recovering from this economy."