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Legislation Repealing the Medical Device Tax Introduced

Legislation Repealing the Medical Device Tax Introduced

Wed Jan 07 2015By Medical Dealer Magazine

Legislation Repealing the Medical Device Tax Introduced

 

Congressman Erik Paulsen has introduced legislation that would repeal the medical device tax as his first piece of legislation in the 114th Congress. The Protect Medical Innovation Act has bipartisan support with 254 co-sponsors including 27 Democrats. The legislation repeals the 2.3 percent excise tax, included in President Barack Obama’s healthcare law, that applies to the sale of medical device products.

Similar legislation introduced by Paulsen in the 113th Congress passed the U.S. House of Representatives on two different occasions, but was not brought up for a vote in the U.S. Senate. However, the Senate did pass a non-binding budget resolution opposing the tax by a bipartisan vote of 79-20.

“The medical device tax continues to stifle innovation, cost American jobs, and drive up healthcare costs despite bipartisan opposition in both houses of Congress,” Paulsen said. “With over 250 co-sponsors day one of the new session, it’s clear repealing this tax should be one of the priorities for the new Congress. The American people are looking for their elected officials in Washington to find common ground and repealing the medical device tax is a great place to start.”

Gregory Sorensen, MD, chief executive officer and vice president of Siemens Healthcare North America, praised the proposed measure.

 

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