December 16, 2019 / By NANCY CROTTI
A bipartisan spending bill unveiled today by Congressional leaders would permanently repeal the 2.3% medical device excise tax.
The spending bill, which must pass both houses of Congress and be signed by President Trump to take effect, would fulfill the widespread wishes of the medtech industry.
The tax went into effect in 2013 and has been suspended twice. One two-year pause ended in January 2018 and the second moratorium is due to expire at the end of this month. The tax on the sale of most medical technologies was enacted as part of the Affordable Care Act and applies to medtech companies’ revenues, not profits. In 2018, the U.S. House of Representatives passed a bill to repeal the tax 283-132, but the Senate failed to act.