Congressman Cantor on Repealing Onerous 1099 Provision for Small Businesses

Statement

Congressman Eric Cantor (VA-07) today issued the following statement on the passage of H.R. 4, repealing the onerous 1099 reporting requirement for small businesses:

"Today, the House took another step to make it easier for our small businesses to grow and create jobs by repealing the onerous 1099 provision. This needless tax compliance mandate included in the ill-conceived ObamaCare law bogs down businesses in paperwork, creating yet another hoop for them to jump through, instead of allowing them to focus on growing their business and creating jobs. While Republicans wish to repeal ObamaCare as a whole, we do not agree with the status quo for health care in this country which is why we offered a bill last year that was focused first and foremost on lowering costs.

"Nearly every small business person I meet says this is one of the most damaging provisions in the ObamaCare law because it forces them to issue burdensome tax forms, spending time and money on paperwork rather than hiring new employees or growing their businesses. I am hopeful we can work with the Senate to iron out the differences between the two versions, so that the President can sign this repeal into law.

"House Republicans are taking serious action to remove barriers to economic growth -- including repealing ObamaCare and cutting spending -- so that people can get back to work and we can start to get our fiscal house in order."

NOTE: 76 Democrats supported the measure.

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