(Washington D.C.) – Today, U.S. Senator Patty Murray
criticized Republicans’ decision to block a critical amendment to ease onerous
tax reporting requirements on Washington state small businesses. Senator
Murray voted for the amendment, sponsored by Senator Bill Nelson (D-FL), which
would have significantly reduced paperwork and labor for small businesses
owners by easing tax reporting requirements for major purchases. Republicans
blocked the bill because it was paid for by closing tax loopholes for oil and
gas companies. The bill failed to get the required 60 votes by a vote of
56-42.
“This was a true colors vote,” said Senator
Murray. “Republicans showed that despite all their rhetoric they still
put big oil before small business. At a time when we need to focus on creating
Main Street jobs and helping consumers, I think we can all agree that oil and
gas companies that are reaping record profits aren’t the ones we should be
fighting to protect. I will continue to work to find a way to ensure these
burdensome reporting requirements are eased and will keep fighting for small
businesses to get the tools they need to grow and expand.”
Senator Murray has been clear that she is committed to
reducing the burden of a new 1099 reporting provision for small businesses
before it is enacted in 2012. The provision Murray is working to change
requires small businesses to do additional paperwork and report additional
information to the IRS when they purchase goods valued at over $600.
While the purpose of the provision is to ensure tax fairness
for all businesses, the provision has been shown to be particularly burdensome
for small business owners. For that reason, Senator Murray was among a small
group of her colleagues who in July proactively called
on the IRS to reduce the paperwork and other requirements the new provision
imposed on small businesses. It’s also why she voted today to significantly
reduce the reporting requirements.
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