Congress passes repeal of 1099 provision, sends bill to Obama

The Senate's vote to repeal the 1099 provision sends the measure on to President Barack Obama. The repeal of the tax-reporting requirement included in the health care law received bipartisan support because it was expected to increase costs for small businesses. The White House has said it "strongly opposes" the bill's provision to offset lost revenue, but Obama hasn't threatened to veto. "We applaud Congress for taking a positive first step toward removing the excessive cost burdens and uncertainties imposed on franchise small businesses as a result of the health care law," said IFA's Steve Caldeira.

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