Forum staff reports, Published January 27 2011
Hoeven wants section in health act revokedWASHINGTON – North Dakota Republican Sen. John Hoeven has signed on to legislation seeking to eliminate a provision in last year’s health care reform law that some say puts an undue burden on businesses.
A section in the Patient Protection and Affordable Care Act mandates that every business, charity and local and state government entity submit 1099 forms for business transactions totaling $600 or more in a given year.
This mandate adds routine business expenses – like phone, office products, and shipping costs – and increases businesses’ reporting requirements by as much as 2,000 percent, according to Hoeven’s office.
“If we expect small businesses to create jobs and get our economy moving again, we need to reduce their regulatory burden rather than bury them under a new mandate,” Hoeven said in a statement.
As of Wednesday, the legislation to revoke the 1099 requirement had 55 co-sponsors in the Senate. North Dakota Democrat Kent Conrad wasn’t among them.