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Democrats counted on raising over $15 billion over 10 years with this requirement in the Health Care Bill. Should it be repealled?

Republicans signaled Wednesday that repealing a controversial tax provision in the healthcare law is one of their most pressing priorities. House Republicans have re-numbered the bill repealing the tax requirement as H.R. 4, signaling it will be one of their first pieces of business.

The bill would repeal language requiring companies, starting in 2012, to report all goods and services transactions valued over $600 to the IRS. Republicans and Democrats, and even the White House, have since said they support repealing this language, which would raise $19 billion over ten years and was included to help pay for the healthcare law.

Rep. Dan Lungren (R-Calif.) had already introduced a so-called 1099 repeal bill, which was numbered H.R. 144. By bumping up that bill to H.R. 4, Republicans are making it clear that they will move this bill on an expedited basis. Traditionally, the House majority controls the first ten bills in Congress (H.R. 1 through H.R. 10), and usually reserves those numbers for high-priority items

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But wait...  If it is repealed and CBO did NOT include this repeal in their 'figures'....  What happens to the CBO numbers? ;o)

Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 7:21 PM on Jan. 13, 2011 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (10)
  • "If Section 9006 is not repealed, business owners will have to begin expending resources to comply with the new law, which means fewer resources will be available for growth and job creation,"

    grlygrlz2

    Comment by grlygrlz2 (original poster) at 7:23 PM on Jan. 13, 2011

  • I'm all for affordable health care for everyone but I hate this bill. and yes it should be repealed.
    mommy_of_two388

    Answer by mommy_of_two388 at 7:24 PM on Jan. 13, 2011

  • I am not a fan of this bill.
    zebbiebug

    Answer by zebbiebug at 7:25 PM on Jan. 13, 2011

  • That provision is a nightmare. Last time we were talking about it when it hit the news, I talked to a friend of mine with an upstart 3 man office. Tracking what they do for all their customers was going to mean scraping up the money to hire someone to do JUST that paperwork, plus the cost of trying to store it all somewhere. And of course, the libs we know insisted he was exaggerating until he showed them the actual numbers they'd worked out on paper. The little places like that are more likely to go under than have the extra capital just lying around to cover the costs of it.
    NotPanicking

    Answer by NotPanicking at 7:42 PM on Jan. 13, 2011

  • EXACTLY what NP said!! It is a freaking nightmare! Can you imagine sending a 1099 to Office Depot and your electric company????

    yourspecialkid

    Answer by yourspecialkid at 9:02 PM on Jan. 13, 2011

  • To add to what NP said, They will not collect that amount of money because more businesses would go under.
    Carpy

    Answer by Carpy at 12:07 AM on Jan. 14, 2011

  • Shhhh You aren't supposed to tell
    itsmesteph11

    Answer by itsmesteph11 at 10:17 AM on Jan. 14, 2011

  • We all know the health care bill will not be repealed in its entirety. Won't happen. Piece by piece IS the way to go.
    gdiamante

    Answer by gdiamante at 1:27 PM on Jan. 14, 2011

  • "EXACTLY what NP said!! It is a freaking nightmare! Can you imagine sending a 1099 to Office Depot and your electric company????"

    Why, yes. DH and I used to have a production company, and we'd have sent out a whopping FOUR 1099s a year. It's not an issue for US... but would have been for Office Depot and the power company!
    gdiamante

    Answer by gdiamante at 1:29 PM on Jan. 14, 2011

  • What is the cost going to be to create a new branch of the government and/or IRS to handle all the 1099's.
    KimPrintable

    Answer by KimPrintable at 2:13 PM on Jan. 14, 2011

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