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GOP, Dems call for repeal of $30 billion medical device tax
The Hill
A bipartisan group of 180 House members — consisting of about 40 percent of the House — has reintroduced a bill to end the 2.3 percent tax on medical devices that was imposed under President Obama’s healthcare law.
That tax took effect at the start of 2013, and is expected to raise a few billion dollars a year in tax receipts for the government, and $30 billion over 10 years. But opponents of the tax say it will hinder innovation and job creation in the medical device industry.
“Placing a new tax on the backs of U.S. medical innovators and entrepreneurs who employ more than 400,000 Americans is not a prescription for economic growth or job creation,” said Rep. Erik Paulsen (R-Minn.), who sponsored the bill. “In fact, companies have already laid off thousands of employees as a result of this onerous new tax, and more jobs will be lost now that this tax is in effect.
“It’s not only costing our country jobs and deterring innovation, but more importantly, it will reduce patient access to cutting edge medical products and treatments that save lives.”
Paulsen introduced a similar bill in the last Congress. The latest version would repeal the tax without offsetting spending cuts.
Last year, the House Ways & Means Committee amended his bill to provide for an offset, something that could happen again in the new Congress. Ways & Means attached language that would pay for ending the tax by requiring the government to recapture all overpayments of health insurance subsidies provided in the healthcare law. Under current law, only some of these overpayments must be returned to the government.
Left Coast Dan
February 8th, 2013
Obama’s policy has been to consistently advocate for as much as he can get away with (or as little in concessions), while continuing to extend America’s horrible march toward oblivion. The only way to deal with him is to force shutdown. Of course I want the 2.3% to go away. But by reversing just this part we sanction the rest of it, and I am done with accepting minor concessions like these in the face of the major damage we see every day.
sablegsd
February 8th, 2013
Like I said during the first go-round of this particular rodeo, this has NOTHING to do with a sudden burst of intelligence or concern about this country and it’s people. It has to do with them realizing they all own stock in medical supply companies.
kono
February 8th, 2013
My company makes prosthetic feet….so this can and will effect my company big time…they’ve already begun down-sizing.
thirdtwin
February 8th, 2013
Dems must have gotten on board when they found out butt-plugs were medical devices. Whatever it takes, I guess
Stirrin the B.S.
February 8th, 2013
We’ll have to repeal this bill once we see what’s in it.
Twellsy
February 8th, 2013
Like Kono, both me and my wife work in the medical industry, her supplying oxygen to patients. This will surely affect her job becase all they deal in is medical devices. Last raise they got was 13 cents, so they are hurting already.
Mary Jane Anklestraps
February 8th, 2013
So Kono-
You guys get any time to just kick it at work?
Im going to hell, I know. Lol.
Mary Jane Anklestraps
February 8th, 2013
I buy from medtronic. Prices have gone up.
theJadedBarrel
February 8th, 2013
This whole debacle is so disgusting.
Claudia
February 8th, 2013
Why don’t you just repeal the WHOLE DAMN THING!!!
Stupid piss-ant chicken shits.
Alxandro
February 8th, 2013
We are all screwed.
A toothbrush is considered a medical device by this guy.
Soon, people will refuse to brush because they won’t be able to afford such a luxury.
Maybe he really does want to turn us into another England
Left Coast Dan
February 8th, 2013
Crazy thing about healthcare and about the economy in general is that we could turn it around in an instant, if we could get Congress to take the right steps. Won’t happen, but we have everything we need right now to have a strong economy, once we get rid of overregulation and Federal monetary policy.
Stranded in Sonoma
February 8th, 2013
Strange how I didn’t equate that quote with the medical device tax; I equated it with the entire ObamaTax law. On the other hand, that’s not so strange at all.
This monstrosity of of a “law” won’t last 5 years. I know a lot of damage can be done in that time but as more and more of it is finally read, it will be repealed piecemeal. I would rather have it go away completely too but that ain’t gonna happen unless two-thirds of both houses of congress have the backbone to override 0bama’s veto. And they don’t.
On the other hand, if the repeal of this section is vetoed by 0bama and there isn’t two-thirds to override it, the Republicans can put all of the economic disaster it will cause right into the lap of the democrats. And that’s a good thing too.
Jerry Manderin
February 8th, 2013
Brick by brick…