Regulatory

House Votes Overwhelmingly To Kill Obamacare’s Tax On Medical Devices

July 25, 2018 – Julia Cohen | Reporter

A bipartisan majority in the House voted to repeal President Barack Obama’s 2.3 percent medical device tax Tuesday.

The repeal passed 283-132, with 57 Democrats and all but one Republican voting in favor. North Carolina Republican Rep. Walter Jones was the sole Republican against the bill.

“Minnesota’s innovators can breathe easier since we’re one step closer to ending the medical device tax for good,” Minnesota Republican Rep. Erik Paulsen, the bill’s sponsor, said in a Tuesday press release. “Today’s vote shows strong bipartisan support for lifting this burden on innovators in an industry so important to Minnesota. I’m more optimistic than ever we’ll be successful in giving these job creators the certainty and predictability they need to thrive.”

The repeal will reduce federal tax revenue by about $22 million over the next 10 years, according to a Wall Street Journal article.

The tax was temporarily rolled back in 2016, and Congress extended the rollback to 2020. Paulsen’s bill makes the repeal permanent.

“This bipartisan legislation will make healthcare more affordable and ensure Americans have access to the most innovative life-saving and life-improving medical technology,” Speaker Paul Ryan tweeted Tuesday.

Despite bipartisan support, some senators are unsure if the bill will make it to the Senate floor by the end of 2018.

 

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Drue De Angelis

Drue is Managing Partner for The De Angelis Group, Executive Search firm exclusively for the Ortho & Spine industry.

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