U.S. Chamber Submits Testimony on Need to Repeal Burdensome 1099 Reporting Mandate
Includes Quotes from Small Business Owners Located in Districts Representing Members of House Committee on Small Business
WASHINGTON, D.C.—The U.S. Chamber of Commerce today submitted testimony to the House Small Business Committee for their hearing, “Buried in Paperwork: A 1099 Update,” calling on Congress to repeal the 1099 reporting mandate. To ensure that the committee hears from small businesses in their own words on what the 1099 reporting mandate would mean for them, the testimony includes quotes from small business owners and local chamber executives located in districts representing the Members of the House Committee on Small Business.
The Chamber’s efforts today are part of a larger effort to bring attention to the burdensome impacts of this bill on America’s job creators. The Chamber has organized a coalition of approximately 2,700 organizations, chambers and businesses from across all 50 states and employing millions of American workers. Each has signed onto the Chamber’s letter calling on Congress to repeal the 1099 reporting mandate without raising taxes on any segment of the business community.
“For 16 years, we have worked hard to establish our credibility and expertise in selling numismatic items,” said Dave and Cheryl Weaver, owners of Weaver Coin Auction in Easton, Missouri. “We are a small company with many faithful customers. The requirements of the 1099 mandate will put us out of business. Please repeal this mandate.”
Roxanne Taylor, the owner of New York Oil Recovery Co in Brooklyn, NY said, “I don’t understand the need for it. It’s just more paperwork that serves no purpose. But it will cost me more to comply. They need to repeal it.”
“It’s a costly provision that doesn’t do anything to help us grow our business or add jobs,” said Charles Armitage, CEO of Uncle Charley’s Sausage in Vandergrift, PA. “It needs to be repealed. The bottom line is we need less government intervention; not more.”
The Chief Financial Officer for Willard Agri-Service, John Olson, noted that, “The 1099 mandate hits small businesses disproportionately hard and it does nothing to improve the competitiveness of U.S. businesses. I have major concerns about security and identity theft with the prospects of this many SSNs and EINs floating around. I will be writing and calling our U.S. Senators and Congressmen in the areas that we operate to ask them to support a full repeal.”
The Chamber has tremendous concerns with the new requirements for reporting payments contained in the Affordable Care Act. As stated in the Chamber’s testimony, “When the United States is depending on the small business community to generate jobs and grow the economy, lawmakers are diverting their precious time and resources to collecting volumes of information and filling out mounds of new paperwork for the government. The Chamber is asking that Congress quickly and fully repeal this onerous provision.”
The Chamber’s complete testimony submitted for the record is available at:
http://www.uschamber.com/issues/testimony/2011/testimony-buried-paperwork-1099-update
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
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