House Votes To Repeal Device Tax, Again
This article was originally published in The Gray Sheet
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.
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AdvaMed and MDMA simultaneously released survey results from their member companies arguing the tax has hurt jobs and investment in the industry and will continue to do so if it is not repealed.
AdvaMed says a new Congressional Research Service report underestimates the number of people likely to lose their jobs because of the tax and is looking forward to a new Republican Congress focused on repealing it.
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.