Senate Dem Moves to Repeal Part of Health Bill
A key Senate Democrat announced Friday that he would introduce legislation to repeal a provision in the recently-passed health care reform law that would eliminate an overly-burdensome reporting requirement for small businesses that might have left many drowning in paperwork. Senate Finance Committee Chairman Max Baucus, D-Mont., released a statement saying, "I have heard small businesses loud and clear and I am responding to their concerns." The Patient Protection and Affordable Care Act (PPACA) contains a provision designed to raise revenue without raising tax rates, that would, beginning in 2012, require all businesses to report payments to and purchases from any business totaling more than $600 in a calendar year, regardless of what the money was used to purchase.
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