House Adds Momentum, But Big Barriers To Device Tax Repeal Remain
This article was originally published in The Pink Sheet Daily
Killing the 2.3% excise tax on U.S. device sales before it takes effect in January would be a major victory for the industry, but with opposition from the Senate and the White House, achieving repeal remains a steep climb at best.
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Legislation to repeal the impending medical device excise tax will be sent to a vote on the House floor, raising the profile of the tax as a congressional election issue even as major impediments to repeal remain in the Senate. Meanwhile, the Supreme Court health care reform ruling looms.
Device firms should not stop preparing for the 2.3% excise tax, scheduled to take effect next January. Still, justices during oral arguments March 26-28 did not take off the table the prospect of ruling the entire health care reform legislation void.
The US agency sent a letter to health-care providers spotlighting its analysis of the increasing numbers of adverse events linked to surgical staplers and implantable staples, and its plans for a draft guidance on labeling and an advisory panel meeting to consider a 510(k) requirement for the products.