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President Barack Obama has signed the first rollback of last year’s health care law, a bipartisan repeal of a burdensome tax-reporting requirement that’s widely unpopular with businesses.
The bill Obama signed Thursday repeals a provision that would have forced millions of businesses to file tax forms for every vendor selling them more than $600 in goods each year, starting in 2012. The filing requirement is unrelated to health care. However, it would have been used to pay for part of the new health law by ensuring that vendors pay taxes.
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.