Medical Device Tax Repeal Introduced
Rep. Erik Paulsen (R-MN) has introduced into the new 115th Congress legislation to permanently repeal the medical device tax. His Protect Medical Innovation Act would repeal the 2.3% excise tax included in the Affordable Care Act that applies to the sale of medical device products. The 114th Congress approved a two-year suspension of the tax that was signed by the President.
In a statement, Paulsen said that “one of the best ways to protect American manufacturing, spur innovation, and make sure the latest and best medical technology is affordable for patients is to repeal this burdensome tax. We are already seeing new American jobs and increased investment in research and development as a result of the temporary suspension of this tax. With over 200 co-sponsors at the start of this new session, and with overwhelming bipartisan support in the past, permanent repeal should be a top priority for Congress.”