Bill Puts Kibosh on 1099 Nightmare

WASHINGTON, DC—In a victory for millions of small businesses across the country, Congress voted to repeal the unpopular aspect of President Obama's health care legislation that would have forced businesses to file Form 1099 tax forms for every vendor that sold them in excess of $600 in goods. Though not related to health care, the Form 1099 law—slated to take effect in 2012—would have helped pay for part of the reforms.