House Adds Momentum, But Big Barriers To Device Tax Repeal Remain
This article was originally published in The Gray Sheet
Killing the 2.3% excise tax on U.S. device sales before it takes effect in January would be a major victory for the industry, but with opposition from the Senate and White House, achieving repeal remains a steep climb at best.
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Congressional leaders have again voted to repeal the 2.3 percent medical device tax criticized by industry for stifling innovation and jobs, and sent it to the Senate for approval. Concerns still surround whether the bill is approvable without an offset.
Some House Democrats and Republicans are circulating a device tax repeal proposal, including an idea for replacing the revenue, to resolve the shutdown. But the president and Democratic leaders in the Senate insist that they will only accept a clean funding bill with no Obamacare strings attached.
New device tax repeal bills; 2012 VC funding data; more news.