Device Tax Repeal Measure Passes Committee, Sent to House Floor

The House Ways & Means Committee Thursday approved legislation, H.R. 436, to repeal the medical device excise tax — delighting industry. The tax, mandated by the 2010 Affordable Care Act, is set to take effect Jan. 1, 2013. The 23-11 committee vote followed a mark-up session in which Republicans maintained the tax would limit innovation and drive jobs offshore, while Democrats argued that rescinding the tax without offering an alternative mechanism for recouping lost revenue is fiscally irresponsible.
Devices & Diagnostics Letter