Sen. Mike Johanns (R-NE) has introduced a bill that would repeal a costly tax reporting provision in the new health care bill requiring all businesses and tax-exempt organizations to issue a Form 1099 to vendors from whom they buy goods totaling $600 or more annually.
The IRS has instituted a one-time relief program for small nonprofit organizations at risk of losing their tax-exempt status because they failed to file an annual return for the last three years.
Rep. Mary Jo Kilroy (D-OH) introduced a bill last week that would impose an annual $50 fee on federal lobbyists to fund the congressional offices charged with processing and reviewing lobbying registration and disclosure reports.
House leaders and reform groups are urging Senate Democrats to put the DISCLOSE Act to a vote this month, but there do not appear to be 60 votes in favor of the bill at this time.
Senate Judiciary Committee members this week asked the board of the Boys & Girls Clubs of America to explain the organization’s $54 million in offshore investments and $53 million in private equity funds at a time when local clubs across the country are closing due to lack of funding.