NAM applauds Senate vote to repeal 1099 reporting requirement.
Press Release Summary:
According to Aric Newhouse, NAM Senior VP for Policy and Government Relations, the 1099 reporting requirement is a burdensome and costly administrative process forcing manufacturers to spend more time filing unnecessary paperwork than providing goods and services. Manufacturers urge the President to sign H.R. 4, the Small Business Paperwork Mandate Elimination Act into law quickly, which will remove financial burden on manufacturers and allow them to help create jobs.
Original Press Release:
Manufacturers Applaud Senate Vote to Repeal 1099 Reporting Requirement
Urge President Obama to Sign Measure into Law
WASHINGTON, D.C., - National Association of Manufacturers (NAM) Senior Vice President for Policy and Government Relations Aric Newhouse issued the following statement today upon Senate passage of H.R. 4, the Small Business Paperwork Mandate Elimination Act:
"The Senate today voted in favor of manufacturers and American jobs. The 1099 reporting requirement is a burdensome and costly administrative process forcing manufacturers to spend more time filing unnecessary paperwork than providing goods and services. We are pleased the Senate understands the impact this provision has on manufacturers and our economy and voted to repeal it.
Manufacturers urge the President to sign H.R. 4, the Small Business Paperwork Mandate Elimination Act into law quickly. By doing this, it will remove a financial burden on manufacturers allowing them to help create jobs."
The National Association of Manufacturers is the largest manufacturing association in the United States, representing manufacturers in every industrial sector and in all 50 states. Manufacturing has a presence in every single congressional district providing good, high-paying jobs. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.
