Leads Votes to Repeal the IRS Form 1099 Requirements

Congressman Bobby Schilling voted “Yes” on H.R. 4, The Small Business Paperwork Mandate Elimination Act of 2011. The bill was passed in the House of Representatives with a bipartisan vote of 314-112.

This legislation will repeal the burdensome IRS Form 1099 requirements created under Obamacare. The repeal of the Form 1099 reporting requirements are paired with a provision to reduce improper health care insurance Exchange subsidy overpayments, also created in Obamacare. It is estimated this repeal will reduce the deficit by $21.9 billion over FY 2011.

Rep. Schilling said, “As a small business owner, I understand the importance of limiting your expenditures to meet a budget.” Rep. Schilling went on to say, “In these tough economic times, every dollar counts. By passing this bill, we do our best to keep the government out of the pockets of small business owners.”