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WASHINGTON — The Senate has rejected efforts to repeal a tax provision that helps pay for President Barack Obama's new health care law.
The provision requires nearly 40 million U.S. businesses to start filing tax forms in 2012 for every vendor that sells them more than $600 in goods.
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The provision was included in the new health care law passed last year, but even Democrats who supported the law now acknowledge that the filing requirement would be a paperwork nightmare for businesses.
Most senators support repealing the requirement, but they couldn't agree Monday on whether to make up the lost revenue. The filing requirement raises an estimated $19 billion over the next decade.
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