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"Tax paperwork and compliance are already major expenses for small businesses," a coalition of 80 business groups wrote in a recent letter to lawmakers. "This new and expanded requirement means that almost every business-to-business transaction is potentially reportable to the IRS." Republicans want to repeal the filing requirement and pay for it by changing other parts of the new health care law, a strategy that Democratic leaders won't support. Democrats want to repeal the filing requirement and pay for it by raising taxes on international corporations and limiting taxpayers' ability to use special trusts to avoid gifts taxes. Republicans won't support that. The House rejected the Democratic bill Friday after Democratic leaders brought it up under a procedure that requires a two-thirds majority for approval. The vote was 241 to 154, with nearly all Democrats voting in favor of the bill and nearly all Republicans opposed. Johanns has been working to repeal the filing requirement in the Senate, with similar results. ___ Online: GOP address: http://www.youtube.com/gopweeklyaddress
[Associated
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