WASHINGTON (AP) — Congress is poised to send the White House its first rollback of last year's health care law, a bipartisan repeal of a burdensome tax reporting requirement that's widely unpopular with businesses. Even President Barack Obama is eager to see it gone.
The Senate is scheduled to vote on the bill Tuesday. Republicans hope it is the first of many such bills, resulting in the entire health care law being scrapped. Democrats say the bill is part of an inevitable tinkering that will be needed to improve the health measure.
The bill, which passed the House last month, would rescind a tax filing requirement for businesses that would have been used to pay for part of the new health law. The provision would require millions of businesses to file tax forms for every vendor selling them more than $600 in goods each year, starting in 2012.
The requirement was projected to raise nearly $25 billion over the next decade by ensuring that vendors pay their taxes. Now, the money will be made up by changing another part of the health care law, requiring more families to repay tax credits designed to help them cover insurance premiums, if their incomes increase beyond certain levels.
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