“President Barack Obama has signed the first rollback of last year’s healthcare law, a bipartisan repeal of a burdensome tax-reporting requirement that’s widely unpopular with businesses.” The law repeals a requirement established by the Affordable Care Act for businesses and landlords to file a Form 1099 document with the Internal Revenue Service for purchases of goods and services exceeding $600 a year.

On April 5th, the US Senate voted to repeal the 1099 reporting provision that was included in the Affordable Care Act. Since the US House of Representatives already passed the bill on March 3rd, it now awaits the signature of President Obama. It is expected that the President will sign the bill into law.