Tuesday, November 30, 2010

Senate Blocks Repeal of Health Care Provision

Yesterday, the Senate blocked an effort to repeal part of Obama's health care reform package. The tax provision would require nearly 40 million businesses to start filing tax forms for every vendor that sells them more than $600 in goods.

The Associated Press reports:

    The provision was included in the new health care law passed last year, but even Democrats who supported the law now acknowledge that the filing requirement would be a paperwork nightmare for businesses.

    Most senators support repealing the requirement, but they couldn't agree Monday on whether to make up the lost revenue. The filing requirement raises an estimated $19 billion over the next decade.

Read more here

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