A story from The Hill Web site said the bill introduced Tuesday by Senators Mike Johanns (R-Nebraska) and Joe Manchin (D-West Virginia) authorizes the Office of Management and Budget to identify unobligated federal funds to cover the cost of repeal. The provision requires businesses to report annual purchases of at least $600 from each vendor. Most Democrats, including the Obama administration, support repealing the provision, but lawmakers have clashed over how to offset the $19 billion in lost revenue.
“It’s a bad policy; it hurts businesses and it should be repealed, enough said,” Johanns said in a conference call with reporters, according to The Hill article.
The measure has 52 co-sponsors including 12 Democrats. Senate Finance Chairman Max Baucus (D-Montana) also plans to introduce a similar measure.
A coalition of business groups listed the killing of the Form 1099 provision on a list of HCR changes it would support. (see Business Groups Make “Wish List” for Health Care Reform).