Republican leaders in the Senate said they want to fast-track an amendment that would effectively repeal a portion of the new reform law while tweaking other parts, but it remains unclear whether or not they'll have an opportunity to do so.
GOP senators target purchase-reporting provision, advisory board
Sen. Mike Johanns (R-Neb.) has readied legislation that would strip a provision in the 4-month-old reform law requiring businesses to report to the IRS purchases of $600 or more.
Business associations, including the U.S. Chamber of Commerce and the National Federation of Independent Business, support the measure, which could be added to a broader bill meant to aid small businesses.
The chamber and NFIB have said that the measure would place a heavy burden on more than 40 million businesses.
Officially, businesses would have to file an IRS 1099 form for non-credit card purchases of $600 or more—a task that Johanns said would be overly burdensome.
As written, the provision in the law would raise about $17 billion. To make up for that lost income, Johanns’ amendment would lower the threshold of the individual mandate and delay some $16 billion in funding earmarked for wellness programs.
In addition, Sen. John Cornyn (R-Texas) and a handful of other GOP members on Tuesday introduced legislation that would effectively kill what’s known as the Independent Payment Advisory Board created in the reform law.
Democrats who wrote the bill said the board is needed to help tamp down ever-increasing healthcare costs.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.