However, Reuters said the measure could be delayed by a dispute with Senate Democrats over how to pay for it. According to the news report, the House vote was 314-112, with 76 Democrats joining the majority Republicans despite concerns the method used to cover the cost of repealing the reporting requirements would weaken President Barack Obama’s health-care overhaul.
Reuters said the reporting provision was meant to improve tax compliance and help pay for the sweeping health-care law, but small firms and the self-employed are up in arms about the paperwork. Starting next year, they must file 1099 forms to the Internal Revenue Service on purchases of goods and services totaling more than $600.
The House-passed bill repeals that provision and a similar measure enacted in separate legislation last year extending the 1099 reporting requirement to landlords, Reuters reported.
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