Senators Introduce Prospective Reporting Bill; Business Group Cheers

Sens. Rob Portman (R-OH) and Mark Warner (D-VA) on Thursday (Aug. 6) announced the "Commonsense Reporting and Verification Act," the Senate counterpart to a House bill that would revise the Affordable Care Act's employer reporting requirements and create a voluntary, prospective system for sending employee data to the IRS. "Obamacare's reporting requirements impose a burdensome compliance process which makes it difficult for employers to offer healthcare to their employees," Portman said in a release. "Furthermore, it requires employers to hand...