Reps. Erik Paulsen (R-Minn.) and Ron Kind (D-Wis.) introduced new anti-medical device tax legislation to Congress Tuesday, reports MassDevice.
The Protect Medical Innovation Act of 2017, sponsored by Rep. Pauksen, seeks to permanently repeal the medical device tax. The tax, which is a 2.3 percent levy on all U.S. sales of prescribed medical devices, was first enacted on Jan. 1, 2013 through the ACA.
In 2015, the medical device tax was suspended for two years through a different bill sponsored by Rep. Paulsen. The bill is set to take effect again in 2018.
"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," Rep. Paulsen wrote in a statement. "We are already seeing new American jobs and increased investment in research and development as a result of the temporary suspension of this tax."
Repealing the tax would eliminate about $2.5 billion in federal funding annually, according to the report.
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