SEMA President Chris Kersting said, “SEMA is pleased that President Obama has responded to one of many critical issues facing small businesses by supporting the repeal of the 1099 reporting requirement. By acknowledging the need to remove this unnecessary burden on small businesses, the President has cleared the way for swift legislative action. SEMA urges Congress to act on the President’s request without delay.”
The “Small Business Paperwork Mandate Elimination Act” has been introduced in the new Congress to remove the burdensome rule. Many members of Congress have signed on as co-sponsors. SEMA will once again work toward its enactment. For more information, please contact Dan Sadowski, Congressional Affairs Manager at dans@sema.org.