Senate Voting on 1099 Repeal Next Week

The Senate next week will likely vote on and pass a measure that
already passed the House of Representatives repealing the new IRS 1099 rules, according to The Hill.

The Senate has already passed
one bill to repeal the new 1099 requirements, but there had been disagreement
between the two chambers’ versions over how to make up the lost revenue. If the
Senate passes the House version without amendments, it will go to President
Obama’s desk for his signature. The President has signaled his support for the
measure.

Among the people testifying against the new 1099
requirements was
jeweler Seth Shipley.

Jewelers can contact their representatives about this issue
through Jewelers of America’s Legislative
Action Center.

To receive the latest jewelry news and blogs every day in your inbox,
subscribe to JCK’s e-newsletter here.