In a State of the Union address that focused on economic growth and called upon the nation to out-innovate, out-educate and out-build the rest of the world, President Barack Obama said he is willing to make improvements to the Patient Protection and Affordable Care Act, but he is unwilling to return to the days when health insurance companies could deny coverage to those with pre-existing medical conditions.
“Now I've heard rumors that a few of you have some concerns about the new healthcare law,” Obama said, drawing laughs from many members of Congress. “So let me be the first to say that anything can be improved. If you have ideas about how to improve this law by making care better or more affordable, I am eager to work with you,” he added.
“We can start right now by correcting a flaw in the legislation that has placed an unnecessary bookkeeping burden on small businesses,” he said, referring to the contentious 1099 provision, which requires businesses to file a 1099 Form with the Internal Revenue Service for every vendor with which they have at least $600 in transactions. FULL STORY »