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Paulsen Votes to Reduce Bureaucratic Red Tape for Small Businesses

FOR IMMEDIATE RELEASE: March 3, 2011

Paulsen Votes to Reduce Bureaucratic Red Tape for Small Businesses
Legislation Repeals Burdensome 1099 Reporting Requirements


Click here to watch Rep. Paulsen’s floor statement
 

Washington, DC – Representative Erik Paulsen (MN-03) released the following statement today after the House passed H.R. 4, the Small Business Paperwork Mandate Elimination Act by 314-112. This bill repeals the 1099 reporting requirements included in the new health care law, reduces the deficit by $166 million and provides a net tax cut of $20 billion over the next years.

“The legislation passed today is a victory for Minnesota families and small businesses who were unfairly targeted to foot the bill for last year’s government takeover of healthcare,” said Rep. Paulsen. “With the elimination of the onerous 1099 reporting requirement, more than 30 million American businesses can now focus their precious resources on growing their business and creating jobs, instead of processing additional paperwork, finding funds to address increased regulatory compliance costs and navigating bureaucratic red tape. In the coming months I look forward to working with my colleagues to continuing to dismantle the job-crushing health care law that is acting as a roadblock to economic prosperity.”

Background and Key Facts:

  • H.R. 4,  the “Small Business Paperwork Mandate Elimination Act of 2011,”:
    • Repeals the onerous new Form 1099 information reporting requirements that were imposed on small businesses to help pay for the Democrats’ trillion dollar health care law.
    • Repeals the onerous new Form 1099 information reporting requirements that were imposed on small businesses to pay for the Democrats’ health care law;
    • Repeals an additional Form 1099 information reporting requirement on owners of rental real estate; and
    • Reduces improper overpayments of Exchange subsidies established under the Democrats’ health care law.
  • According to the Joint Committee on Taxation (JCT), H.R. 4, on net, reduce the deficit by $166 million over the 2011-2021 period.
  • More than 175 organizations support 1099 repeal, including many in the small business community who signed a letter for repealing the 1099 reporting provisions on job creators.

Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation currently serves on the House Ways and Means Committee, and is co-chair of the Congressional Korea-U.S. Free Trade Working Group and co-chair of the House Medical Technology Caucus.

For more information on Rep. Paulsen’s work in Congress, please visit www.paulsen.house.gov.

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