Senate Votes to Repeal 1099 RequirementImage Banner

Senate Votes to Repeal 1099 Requirement

You are here

Senate Votes to Repeal 1099 Requirement

January 31, 2011

Senators approved, by an 81–17 vote Wednesday, an amendment by Senator Debbie Stabenow (D-MI) to fully repeal the tax provision that requires business to file a 1099 form for all purchases of $600 or more.


The Congressional Budget Office has estimated that repealing the policy would cost roughly $17 billion in lost revenue, which Stabenow’s amendment would offset—and then some—by directing the White House budget office to find $44 billion in appropriated discretionary funds.


A spokesperson for the House Ways and Means Committee said the 1099 repeal is a top priority and will move quickly through the committee. It is also a top priority for employers and small businesses, in particular.