Senate Sends Bill to Repeal Expanded Form 1099 Rules to Obama

The Senate votes 87-12 to pass legislation (H.R. 4) repealing the year-old expansion of Form 1099 information reporting requirements and sends the bill to President Obama's desk. The White House says Obama welcomed passage of the bill and will sign it despite his earlier objections to the changes it will make to the advance premium assistance tax credits created under the Patient Protection and Affordable Care Act. Passage of the bill also represents the first successful attempt by Republicans to overturn or amend elements of the health care overhaul that they did not like.