The 1099 tax form mess continues, with both the House and Senate moving to pass repeal bills. Unfortunately, the Senate’s solution for filling the resulting revenue gap is to promise vaguely to find unneeded spending it can cut; the House’s is to raise low- and middle-income earners’ health insurance premium costs; and the whole thing might still fail if the two sides can’t agree on a compromise:
There’s one legislative issue lawmakers on both sides of the aisle overwhelmingly agree on: The onerous 1099 tax-reporting mandate that snuck into the health-care reform bill has to be repealed.
The Republicans promised to eliminate it in their Pledge to America, and President Obama did the same in his State of the Union address. So nearly one year after its passage, why isn’t the law dead yet?… [read more]