1099 Repeal Passed

We’ve been following the 1099 reporting change issue that was included in the Healthcare Act. The US Senate has now passed the repeal, which is headed for President Obama’s desk. All indications are that the President intends to sign the bill. Small and mid-sized businesses can sigh in relief. I’m not so sure what Congress intends to do to bridge the revenue gap left by the repeal of this measure. Seems to me that the original estimate was counting on this to raise in the range of 40 billion for health care. I didn’t check the number, so I could be off.
Senate Approves 1099 Repeal, Sends Bill to President