Thursday, February 3, 2011

Health-Care Repeal Defeated in Senate

By a party line vote of 51-47, the Senate voted down a measure that would have repealed last years overhaul of the health-care system. This effectively ends and legislative repeal effort of Obamacare. All eyes will continue to focus on the judicial branch and its rulings surrounding the legislation, which will likely end up in the Supreme Court. It is expected that the House will now begin to focus its attention on repealing selected provisions of the bill.

In related news, the Senate did pass a repeal of the 1099 reporting provision that was included in the original health-care legislation. The provision, which would have required a business to file a 1099 tax form when paying a vendor more than $600 in a year, was repealed by a vote of 81-17.

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