We might get Congress behind a medical device tax repeal, but the President? Less likely, according to The Hill, which compiled a list of important legislation that’ll be put forth this year to get a sign off from President Obama.
Ranking sixth of eighth? The medical device tax – meaning that despite all the ballyhooing around the levy, it’s still pretty unlikely to be repealed.
6. Medical device tax. House Republicans have voted over 50 times to repeal or modify ObamaCare, and are now pushing targeted changes to the law in hopes of drawing Democratic support.
The most promising target is the healthcare law’s medical device tax, a 2.3 percent excise tax that helps fund the law’s expansion of insurance coverage.
A bill to repeal the law’s 2.3 percent sales tax on medical devices could get 60 votes in the Senate with the help of centrist Democrats and even more liberal members like Minnesota Democratic Sens. Al Franken and Amy Klobuchar.
But whether Obama would accept the bill is unclear, as he has vowed not to sign any legislation that he believes undermines his signature legislative achievement.
In my experience, the bigger devicemakers are crying wolf just a touch. It does seem to negatively impact the smaller medical device companies. How’s this for a twist: Repeal the medical device tax, but levy it on the tech industry. It’s got plenty of cash to spare.
