U.S. senators submit medical device tax repeal bill

By AuntMinnie.com staff writers

March 11, 2019 -- U.S. Sens. Pat Toomey (R-PA) and Amy Klobuchar (D-MD) on March 7 introduced a bill to repeal the medical device tax.

The tax is part of the Affordable Care Act of 2010 (ACA), and it levies a 2.3% excise tax for medical devices, according to a statement released by Sen. Toomey. It applies to gross sales, which makes it particularly damaging for small medical device companies, Toomey said.

The tax took effect in January 2013 but has been suspended since January 2016. Last December, 12 U.S. governors urged repeal of the tax; in 2017, four U.S. senators included repeal in a proposed healthcare reform bill. As well, organizations such as the Medical Imaging and Technology Alliance (MITA) have long lobbied for the tax to be abolished.

Joining Sens. Toomey and Klobuchar are 18 other cosponsors, including Sens. Alexander (R-TN), Blumenthal (D-CT), Casey (D-PA), Crapo (R-ID), Duckworth (D-IL), Grassley (R-IA), Hassan (D-NH), Inhofe (R-OK), Isakson (R-GA), Jones (D-AL), McSally (R-AZ), Portman (R-OH), Rosen (D-NV), Shaheen (D-NH), Sinema (D-AZ), Smith (D-MN), Tillis (R-NC), and Young (R-IN).


Copyright © 2019 AuntMinnie.com
 

To read this and get access to all of the exclusive content on AuntMinnie.com create a free account or sign-in now.

Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking
account: