S 18
112th CONGRESS
1st Session
S. 18
To repeal the expansion of information reporting requirements
for payments of $600 or more to corporations, and for other purposes.
IN THE SENATE OF THE UNITED STATES
January 25 (legislative day, January 5), 2011
Mr. JOHANNS (for himself, Mr. MANCHIN, Mr. ALEXANDER, Ms. AYOTTE, Mr.
BARRASSO, Mr. BEGICH, Mr. BENNET, Mr. BLUNT, Mr. BOOZMAN, Mr. BROWN
of Massachusetts, Mr. BURR, Mr. CHAMBLISS, Mr. COATS, Mr. COBURN, Ms.
COLLINS, Mr. CORKER, Mr. CORNYN, Mr. CRAPO, Mr. ENSIGN, Mr. ENZI, Mr.
GRAHAM, Mr. GRASSLEY, Mrs. HAGAN, Mr. HOEVEN, Mrs. HUTCHISON, Mr. INHOFE,
Mr. ISAKSON, Ms. KLOBUCHAR, Mr. KYL, Mr. LEE, Mr. LUGAR, Mr. MCCAIN,
Mr. MCCONNELL, Mr. MORAN, Ms. MURKOWSKI, Mr. NELSON of Nebraska, Mr.
PORTMAN, Mr. RISCH, Mr. ROBERTS, Ms. SNOWE, Ms. STABENOW, Mr. TESTER,
Mr. THUNE, Mr. UDALL of Colorado, Mr. WICKER, Ms. CANTWELL, Mr. SHELBY,
Mr. VITTER, Mr. KIRK, Mr. SESSIONS, Mr. WARNER, Mr. PRYOR, Mr. HATCH,
Mr. NELSON of Florida, Mr. TOOMEY, and Mrs. MCCASKILL) introduced the
following bill; which was read twice and referred to the Committee on
Finance
A BILL
To repeal the expansion of information reporting requirements
for payments of $600 or more to corporations, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Small Business Paperwork Mandate Elimination
Act'.
SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS.
Section 9006 of the Patient Protection and Affordable Care Act, and
the amendments made thereby, are hereby repealed; and the Internal Revenue
Code of 1986 shall be applied as if such section, and amendments, had
never been enacted.
SEC. 3. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS IN REVENUES.
(a) In General- Notwithstanding any other provision of law, of all available
unobligated funds, $39,000,000,000 in appropriated discretionary funds
are hereby rescinded.
(b) Implementation- The Director of the Office of Management and Budget
shall determine and identify from which appropriation accounts the rescission
under subsection (a) shall apply and the amount of such rescission that
shall apply to each such account. Not later than 60 days after the date
of the enactment of this Act, the Director of the Office of Management
and Budget shall submit a report to the Secretary of the Treasury and
Congress of the accounts and amounts determined and identified for rescission
under the preceding sentence.
(c) Exception- This section shall not apply to the unobligated funds
of the Department of Defense or the Department of Veterans Affairs.
END
