Republicans Renew Push To Repeal Device Tax; Broad Support Questionable
This article was originally published in The Pink Sheet Daily
GOP members in the House and Senate introduced companion bills Jan. 25 that would repeal the medical device excise tax before it takes effect in 2013, but few Democrats have jumped on board publicly so far.
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In his annual State of the Union address Jan. 25, the president announced that his proposed federal budget for 2012 will include policies to promote biomedical innovation, but he did not describe what those policies would include.
While a House-approved bill to repeal the entire health care reform law will be dead-on-arrival due to Democratic control of the Senate and White House, there is some bipartisan support for reversing one unpopular provision of the reform law that requires extra tax filings by companies.
The results of the 2010 congressional election give some in industry hope that the device excise tax written into the health care reform law can be at least modified in the next Congress before it takes effect.