Republicans Push Back on Obama Health Care Plan to 1099 EverythingThu, 12 Aug 2010 6:02:04 CDT
This week during the House Ag Committee Republicans feature The Ag Minute, guest host Representative Adrian Smith of Nebraska discusses how President Obama's new health care law negatively affects farmers, ranchers, and small businesses. Section 9006 of the law requires that all businesses file a 1099 with the Internal Revenue Service for every vendor with which it has more than $600 in transactions in a year. Rep. Smith explains that this would be an administrative nightmare for our nation's family farms.
This prompted him to cosponsor HR 5141, the Small Business Paperwork Mandate Elimination Act, which will repeal this new requirement. Click here to read the language of the bill.
Click on the LISTEN BAR below to listen to The Ag Minute. The transcript follows:
"Our nation's farmers and ranchers could have a pile of paperwork in their near future, thanks to of all things the health care bill.
"The health care law signed by President Obama requires farmers and ranchers to file a Form 1099 with the Internal Revenue Service for every vendor or contractor from which they purchase 600 hundred dollars or more in goods or services in a calendar year.
"In other words, when a farmer or rancher spends $600 on feed corn, seeds, fertilizer, fuel, tractors or nearly every other expense, they will have to research and prepare a 1099 form for each and every purchase.
"This will quite frankly prove to be an administrative nightmare for our nation's family farms.
"This is why I have cosponsored H.R. 5141, the Small Business Paperwork Mandate Elimination Act, legislation which will repeal this new requirement and provide relief for ag producers who are already burdened by the heavy hand of government.
"Our nation's farmers and ranchers already have enough headaches when it comes to tax time. Congress shouldn't be making them worse to pay for a misguided health care bill."
The Ag Minute is Ranking Member Frank Lucas's weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans.
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