Representative Todd Rokita (R-IN) fought for business deregulation last month by co-sponsoring and helping to pass a bill that eliminates job-killing 1099 reporting requirements contained within President Obama's health care law. Today, the Senate passed an amendment that deems identical legislation passed in the Senate, a move that will send the 1099-repeal measure to the President's desk. If the President passes the bill, it will be the first piece of legislation co-sponsored by Rokita to be signed into law.
The move is a victory for the business community suffering under the costly regulation laws, currently requiring companies to report business transactions worth over $600.
Representative Rokita released the following statement:
"Today is a victory for the small business community, as these 1099 reporting requirements threaten their livelihood every day. By cultivating a more business-friendly environment, certainty will be restored and the economy will begin to grow. The Senate vote today is another major step forward in ridding our nation of job-killing mandates that suck the life from small businesses and discourage entrepreneurship."
The bi-partisanly supported measure was proposed by Sen. Mike Johanns, (R-NE) and passed by 87-12.