Manufacturers optimistic about repeal of medical device tax
Editor's Note
On October 24, 179 House members (including 43 Democrats) signed a letter to Speaker Paul Ryan (R-Wis) calling for repeal of the medical device tax, the October 25 issue of The Hill reports.
The medical device tax, which was included in the Affordable Care Act to help pay for former President Obama’s healthcare law, was suspended by Congress in a 2015 spending bill until January 1, 2018.
Lawmakers and the medical device industry point to a federal report that shows jobs fell by nearly 29,000 when the tax was in effect, and they say it is critical to the health and sustainability of device manufacturers that this tax is not once again applied to their products.
Legislation in the House to repeal the tax has 260 cosponsors, while the Senate has 14.
The medical device and insurance industries are fighting to stop ObamaCare taxes from taking effect now that it's clear the law will remain on the books next year. Industry sources say they're optimistic and that momentum is growing.
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