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Repeal of Health Law’s ‘Onerous’ Business-Expenses Rule Fails

The U.S. Senate failed today to adopt language that would have repealed a rule, created by the health-care overhaul law, requiring businesses to report annual expenses to individual vendors in excess of $600.

Eliminating the mandate, known as the 1099 rule after an Internal Revenue Service form used by businesses, would have reduced U.S. tax revenue by more than $19 billion over the next decade. Two amendments that would have repealed the requirement were rejected today; two similar measures failed in September.