WASHINGTON -- The House has voted to repeal an unpopular tax filing requirement for businesses that was included in the massive health care overhaul enacted last year.
A provision tucked into the new law would require millions of businesses to file tax forms for every vendor that sells them more than $600 in goods each year, starting in 2012. The requirement is projected to raise nearly $25 billion over the next decade by ensuring that vendors pay their taxes. But lawmakers in both parties say it could create a paperwork nightmare for businesses.
The House voted 314 to 112 Thursday to repeal the requirement. The Senate has passed a similar measure, though Republicans and Democrats -- and the House and Senate -- disagree on how to make up the potential revenue.