Marathon Pundit: From the SRCC: Businesses urge repeal of ObamaCare 1099 mandate

Sneaked into the ObamaCare bill, a piece of legislation few members of Congress read, is the 1099 mandate. What is it? Every time a business conducts a transaction of $600 or more, it has to fill out an IRS 1099 form. Once ObamaCare kicks in, a large corporation will probably have to complete hundreds of such forms--a day. Sen. Mike Johanns (R-NE) wants to add this madness, but a New Jersey Democratic Senator, Bob Menendez, wants to keep it alive.

From the Senate Republican Communications Center:

Business Groups Embrace The Johanns Proposal, ‘Oppose The Menendez Amendment’

Johanns Proposal ‘Would Fully Repeal… The 1099 Reporting Mandate’ In The Dem Health Spending Bill

LETTER FROM 177 BUSINESS GROUPS: “On Behalf Of The Undersigned Organizations, We Are Writing To Urge You To Support H.R. 4, The ‘Comprehensive 1099 Taxpayer Protection And Repayment Of Exchange Subsidy Overpayments Act Of 2011,’ and to oppose the Menendez Amendment.” (177 Business Groups, Letter To U.S. Senators, 4/4/11)

•   “Tax Paperwork And Compliance Are Already Major Expenses For Small Businesses And The New Reporting Requirements Included In PPACA Will Substantially Increase These Costs.” (177 Business Groups, Letter To U.S. Senators, 4/4/11)

•   “In Order To Comply With This New Requirement [Small Businesses] Will Have To Pull Capital Out Of The Business That Could Be Better Used To Reinvest In The Business And Create Jobs.” (177 Business Groups, Letter To U.S. Senators, 4/4/11)

•   “Passage Of H.R. 4, Without Amendments, Is The Best Way To Remove The Costly Impact The 1099 Requirement Would Have On Millions Of Businesses.” (177 Business Groups, Letter To U.S. Senators, 4/4/11)

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: “The Johanns Amendment Is Identical To H.R. 4, The House-Passed 1099 Repeal Bill, And Passage In The Senate Will Be A Critical Step To Removing This Impending Paperwork Burden From Small Business.” (National Federation Of Independent Business, Letter To U.S. Senators, 3/29/11)

U.S. CHAMBER OF COMMERCE: “Strongly Supports An Amendment Offered By Senator Mike Johanns To S. 493, The ‘SBIR/STTR Reauthorization Act Of 2011,’ Which Would Fully Repeal Section 9006 Of The ‘Patient Protection And Affordable Care Act’ (PPACA), Usually Referred To As The 1099 Reporting Mandate… This Provision Will Dramatically Increase Accounting Costs…”(U.S. Chamber Of Commerce, Letter To U.S. Senators, 4/1/11)

THE NATIONAL ASSOCIATION OF MANUFACTURERS: “The Johanns Amendment Would Repeal Expanded Reporting Requirements… This Reporting Requirement Is Extremely Onerous — Especially For Small Manufacturers.” (National Association Of Manufacturers, Letters To U.S. Senators, 3/29/11)

177 Business Groups: ‘Oppose The Menendez Amendment’

LETTER FROM 177 BUSINESS GROUPS: “We Are Writing To Urge You… To Oppose The Menendez Amendment.” “On behalf of the undersigned organizations, we are writing to urge you to support H.R. 4, the ‘Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011,’ and to oppose the Menendez Amendment.”(177 Business Groups, Letter To U.S. Senators, 4/4/11)