Congress on April 5, 2011 sent President Barack Obama one provision of last year's Health Reform measure with bi-partisan support. The provision is the unintended consequence of the overhaul measure. The provision required small businesses to file tax forms for every vendor selling them more than $600 in goods each year, starting in 2012. The filing requirement is projected to raise $25 billion over the next decade. The existing rule is for small businesses to file 1099 forms when they purchase more than $600 in services each year. The health care overhaul aims at expanding the reach to goods effective 2012. The bill has been approved by the House (314-112) in early March and Senate (87-12) on April 5. Under the bill, the lost revenue of $25 billion would be made up of by changing another part of health care reform measure by requiring more families to repay tax credits designed to help them cover insurance premiums, if their incomes increase beyond certain levels.
Source: The Dallas Morning News (April 6, 2011 edition)
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