CongressmanTim Griffin (AR-02) today issued the following statement regarding his vote to repeal the job-killing 1099 reporting mandate. The mandate requires businesses to report to the IRS most business-to-business transactions above $600, which is particularly burdensome for small businesses.
"I am proud to vote to repeal the overly burdensome 1099 reporting mandate found in the 2010 health care law. Under the law, Arkansas small businesses must send 1099 forms to the IRS every time they buy over $600 in goods from stores like Wal-Mart--placing an enormous financial burden on job creators. I believe the health care law should be replaced but, until then, we need to repeal provisions like the 1099 mandate to protect small business jobs and help create more."
H.R. 4, the Small Business Paperwork Mandate Elimination Act of 2011, was sponsored by Rep. Dan Lungren (R-CA). It passed by a vote of 314-112. All four members of Arkansas's delegation voted for passage.