Repeal of 1099 Reporting Requirements Pending

This just received from Senator Jeff Merkley’s office in Washington D.C. 
1099 Update from Senator Merkley
Knowing of your concerns about the new 1099 reporting requirements for businesses, I wanted to let you know that just hours ago I joined my colleagues in passing legislation to repeal the 1099 provision. I am pleased to report that, because the House of Representatives has already passed this legislation, the bill will now be sent to President Obama to be signed into law. As you know, it has not been an easy process to get to this point. Because repealing the 1099 provision will cost the federal government revenue, Congress has had to wrestle with the question of where to cut spending or find other revenue to ensure that the repeal will not increase the deficit, and we have considered many prior versions that did not end up passing both chambers of Congress. I appreciate hearing from you and so many of your fellow Oregonians throughout this process, and I am glad to report the good news that we have finally accomplished this necessary repeal. Again, I appreciate your input and I hope you will continue to send your observations and thoughts my way. All my best, John Valley Field Representative U.S. Senator Jeff Merkley http://www.merkley.senate.gov ph: 503-326-3395 fax: 503-326-2900 john_valley@merkley.senate.gov Sign up for Senator Merkley’s E-newsletter