The U.S. Senate failed fully to repeal PPACA in a 47 to 51 vote today, but succeeded in repealing Section 9006 of PPACA which, starting in 2012, would have expanded Form 1099 reporting to include payments of $600 or more to corporations providing services or goods. (Form 1099 currently is limited (generally) to reporting services worth $600 or more received from individuals or non-corporate entities.)
The expanded Form 1099 reporting was the lowest of the low-hanging fruit in the PPACA and even was singled out by President Obama in his State of the Union address as an expendable provision of the health care reform law.
Repeal of this measure is expected to cost approximately $22 billion over 10 years. This amount is to be restored with appropriated but unspent federal funds chosen at the discretion of the Office of Management and Budget. Defense, Veterans Affairs and Social Security funds are reported to be exempt from reductions.