Bill to Repeal Medical Device Tax Likely to Come Soon

House Republicans expect a vote this week on a bill that would remove a planned a 2.3 percent excise tax on medical devices, according to a Hill report.

The tax is part of the Patient Protection and Affordable Care Act and is intended to generate billions of dollars to help pay for other parts of the healthcare law.

Last month, House Majority Leader Eric Cantor (R-Va.) called the tax on medical devices "draconian" in a memo to fellow GOP lawmakers. Democrats feel the vote to repeal the tax — which is unlikely to pass through a Democratically-controlled Senate — is a timed effort, coming days before the Supreme Court is expected to issue a final decision on the constitutionality of the PPACA.

The American Action Forum, an economic policy institute, released a study examining the economic impact of the medical device excise tax. It says the tax would lead to between 14,500 and 47, 100 job losses and mainly affect small and mid-sized businesses; 81 percent of American medical device manufacturers are small businesses with less than 50 employees.

More Articles on the Medical Device Tax:

House Republicans Plan Vote to Repeal PPACA Ahead of Supreme Court Ruling
GOP Introduces Bill to Cut Excise Tax on Medical Devices
AHA, Others Urge IRS to Keep Medical Devices From Passing Tax to Customers

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