WASHINGTON, D.C. – U.S. Sen. Lisa Murkowski, R-Alaska
voted to repeal the 1099 tax reporting mandate – a portion of the Patient
Protection and Affordable Care Act that forced small businesses to file IRS tax
forms when any business transaction passes a $600 threshold.
“It shouldn’t take seven Senate votes to rip up paperwork
and speed up our economic recovery; this was a must for Alaska’s small
businesses,” Murkowski said. “With the challenges facing our business
community, both statewide and nationwide, we don’t need to create new burdens
for them. I hope doing so clears the way for a store on Sterling Highway,
an Anchorage restaurant and any Alaska small business owner buried under
needless paperwork and red tape.”
The U.S. Senate voted 87-12 in favor of repealing the tax
reporting requirement. The repeal is now on its way to the President, who has
indicated he will support the measure.
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