Community Bankers Association of Illinois

CBAI-Supported 1099 Repeal Signed into Law
April 14, 2011

The President signed into law H.R. 4, the CBAI-supported repeal of that portion of the Affordable Care Act requiring businesses to report information to the IRS on payments for goods and services of $600.00 or more.

Congress passed this legislation and sent it to the President earlier in the month. In the Senate, Illinois Republican Mark Kirk voted in favor of repeal - while Democrat Richard Durbin voted against repeal. All of the Illinois Republican members of the House were joined by Democrats Jerry Costello, Dan Lipinski and Mike Quigley in voting in favor of repeal.

CBAI consistently supported repeal efforts and thanks the President and members of Congress on both sides of the aisle for eliminating this unnecessary burden on small businesses including community banks.

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