2010 11/30 Form 1099 Requirements - Unsuccessful Repeal

Yesterday, the Senate voted on both the Johanns and Baucus amendments to repeal the 1099 reporting requirements (link to previous legislative alert). Both amendments failed to pass under the 2/3rds rule in the Senate: the Johanns amendment failed 61-35 (link to vote breakdown) and Baucus amendment failed 44-53 (link to vote breakdown). The Johanns amendment paid for the repeal with unused stimulus funds; the Baucus amendment had no offsets. We believe this will be the last vote on the 1099 reporting issue this year; if a repeal is not successful in the next session the new 1099 reporting will go into effect on January 1, 2012.

TechMaine will continue to push for a repeal of the 1099 provision. Thanks to both Senators Collins and Snowe who voted to repeal the 1099 reporting requirements.