WASHINGTON, DC—U.S. Senator John Thune (R-S.D.) today expressed disappointment over the defeat of a bipartisan amendment offered by Senator Mike Johanns (R-Neb.) to fully repeal the costly and burdensome tax reporting mandate included in the recently enacted health care law, which requires every business, church, charity, and government entity to submit 1099 tax forms for every business transaction totaling $600 or more annually beginning in 2012. The Johanns amendment, which Thune cosponsored, needed 67 votes for passage but failed by a vote of 61 to 35.

“Today the Senate failed to stand up for small businesses across our country and protect them from this burdensome tax reporting requirement,” said Thune. “With over 15 million Americans currently unemployed, Congress should not be choking our job creators with increased red tape. The Johanns amendment would have fully repealed this costly requirement, without adding a penny to the national debt.”

The Senate failed to pass a similar amendment offered by Johanns on September 14, 2010. The Johanns amendment is supported by numerous groups including the U.S. Chamber of Commerce, the National Federation of Independent Businesses, the American Farm Bureau Federation, the International Franchise Association, and the Associated Builders and Contractors, Inc., among others.

Thune spoke in support of the Johanns amendment on the Senate floor earlier today. Click here to view Thune’s floor speech.

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