John Thune

“I talk to small-business owners in South Dakota ... and across the country, and there’s all this capital sitting on the sidelines right now because people don’t know what the rules are going to be,” he said. “They see these tax increases looming on Jan. 1. They are concerned about all the regulations coming out of agencies like the [Environmental Protection Agency]. The heath care reform bill is imposing all kinds of new mandates on businesses.”

In July, Thune proposed the Deficit Reduction and Budget Reform Act, which has three prongs: “eliminating wasteful spending”; budget reform, including a requirement for a binding joint budget resolution; and creation of a Joint Committee on Deficit Reduction.

Sen. John Thune (S.D.), a member of GOP leadership, unveiled a plan in July that would have Congress pass the annual appropriations bills during even-numbered years and conduct oversight of federal spending in the years between. Rep. Paul Ryan (Wis.), the ranking Republican on the House Budget Committee, has been pushing for two-year budgets since 2003. Both Thune's and Ryan’s plans would also give more power to the president to rescind spending and put binding caps on discretionary spending.

The spirit of American Exceptionalism that our country’s founding fathers embraced was built on the fundamental pillars of political liberty, economic freedom and moral responsibility. Today, I am concerned that one of those pillars is at risk: our economic freedom.

America’s national debt is increasing with every passing day. In the 232 years of American history until 2008, through 43 American presidents, our country accumulated $6.3 trillion in publicly held debt. Under the Obama Administration, that number is projected to double in five years, and triple in 10 years.

An amendment offered by Nebraska Senator Mike Johanns to fully repeal a 1099 Tax reporting provision in the new health care bill failed Tuesday. The provision of the law mandates that every business, charity, and local and state government entity submit 1099 forms for business transactions totaling $600 or more in a given year...

South Dakota Senator John Thune co-sponsored the legislation. Speaking from the Senate floor he urged his collegues to pass the legislation. Thune says the 1099 tax reporting provision is disastrous for nearly 40 million small businesses and it kills jobs.  He says it easy to see why so many organizations are oppose it. Thune says its estimated to cost nearly $23,000 per business to comply with the mandate.

U.S. Sen. John Thune says a tax-reporting measure included in the Democrats' health care overhaul will hamper small businesses' ability to create jobs.

Thune supported an amendment by Sen. Mike Johanns, R-Neb., that sought to repeal a measure that would require businesses to issue 1099 tax forms to people or companies that sell them more than $600 worth of goods or services a year.