09/11/2024 | Press release | Distributed by Public on 09/11/2024 12:41
Washington, D.C. - Today, Congresswoman Carol Miller's (R-WV) Saving Gig Economy Taxpayers Act, passed a vote of 22-16 through the Ways and Means Committee markup. Congresswoman Miller introduced this bill to restore the current 1099-K threshold level of $600 back to the original $20,000 by repealing the Democrats' American Rescue Plan policy, which has placed an unfair tax hike upon Americans and gig workers. The bill is cosponsored by all Republicans on the Ways and Means Committee.
"I was glad to see my bill, the Saving Gig Economy Taxpayers Act, pass through the Ways and Means Committee. For the last three years, I have been working with my Republican colleagues to undo the horrendous provision in the Democrat written American Rescue Plan, which has resulted in a tax hike on Americans and gig workers who use online payment platforms. Democrats have continued to upend everyday Americans' lives by creating disastrous policies that affect their earnings and have installed another way for the government to track their finances. My bill will repeal this policy and restore the original 1099-K threshold levels to ensure that Americans and gig workers escape the unnecessary burden of tax increases and filling out loads of IRS paperwork," said Congresswoman Miller.
"Three years ago, Vice President Harris cast the tie-breaking vote that opened the floodgates for the IRS to target workers by allowing the agency to go after PayPal and Venmo transactions totaling more than $600. This was particularly harmful to gig workers. Economic analysis shows that 90 percent of this tax burden will fall on filers making less than $200,000, which is why the IRS has delayed implementing this disastrous rule every year since. They know it is unworkable and unfair to middle-class Americans already struggling in the Biden-Harris economy. Thanks to Rep. Miller's leadership, the Saving Gig Economy Taxpayers Act will end the Biden-Harris administration's misguided attack on workers by repealing this misguided law that puts working Americans in the IRS's crosshairs," said Chairman Jason Smith.
Key Quote: "With the Democratic 1099-K policy, companies are now once again having to take more money from their customers to satisfy the IRS. This policy is so detrimental that even the IRS knew it would be a disaster - so they've taken it upon themselves to single handedly and, let me be clear, unconstitutionally, delay implementing the lower threshold each year since its passage. The Biden-Harris Administration has set a terrible precedent that the IRS can ignore tax laws when politically convenient. The legislation before us today would repeal Democrats' 1099-K law and stop the attack on gig workers and Americans that might just want to sell their old basement couch on eBay,"said Congresswoman Miller.
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