Friday, January 28, 2011

How slowly government works

There is almost universal agreement that the 1099 law attached to a health care bill is a horrible law.

Even the people who stand to make out on the deal, accountants, universally hate the law and yet there it stands.

Now the Senate finally got 60 senators to sponsor a bill to repeal the provisions......

A bipartisan bill in the Senate that would repeal the unpopular 1099 provision in the healthcare law garnered 60 co-sponsors on Thursday, giving the legislation its best chance at passage so far.

Lawmakers have quickly signed onto the measure that would eliminate the requirement that businesses must file the forms to the IRS for every vendor with whom they have at least $600 in transactions since Sens. Joe Manchin (D-W.Va.) and Mike Johanns (R-Neb.) introduced the bill on Tuesday.

"Today we hit the magic number 60 and I feel great about that," Johanns told The Hill on Thursday.

The measure has support of 45 Republicans and 15 Democrats -- Sens. Mark Begich (Alaska), Michael Bennet (Colo.), Maria Cantwell (Wash.), Kay Hagan (N.C.), Amy Klobuchar (Minn.), Manchin, Ben Nelson (Neb.), Mark Pryor (Ark.), Debbie Stabenow (Mich.), Jon Tester (Mont.), Mark Udall (Colo.), Mark Warner (Va.), Sen. Claire McCaskill (D-Mo.), Sen. Bill Nelson (D-Fla.) and Sen. Jim Webb (D-Va.).

Johanns failed twice last year to push through a bill even Democrats, Republicans and the White House agreed that the provisions would place an "onerous burden" on businesses.

Let's do a pool. Today is January 28. Anyone want to pick an over/under date as to when this law will be passed and signed by the president (Obama has gone on record saying he will sign the legislation.).

I'm going to guess April 28, 2012.


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