Markey, Warren Introduce Medical Device Tax Repealer

Sens. Edward Markey and Elizabeth Warren (both D-MA) have reintroduced legislation (S. 2287) to eliminate the 2.3% excise tax on medical devices. The tax first took effect 1/2013 as part of the Affordable Care Act. Congress suspended it for 2016 and 2017, but it was reinstated 1/1.

Markey says the “No Taxation on Device Innovation Act” offsets the cost of repealing the medical device tax by ending an estimated $29 billion in tax breaks for oil companies, free-drilling loopholes, and taxpayer subsidies for the oil and gas industry over the next decade.

The bill is not yet in print.

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