Repeal of Medical Device Tax Passes House Ways And Means Committee
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Daniel Riordan-driordan@timesuniononline.com
Another attempt to repeal the 2.3 percent excise tax set to be levied on companies like Biomet, DePuy and Zimmer next year passed through a powerful committee Thursday.
The House Ways and Means Committee approved four health care-related measures in session.
“I am glad that all four bills considered today received bipartisan support. Particularly of note are the repeals of the job-killing medical device tax on U.S. manufacturers and the ban on using health-related savings accounts for over-the-counter medication, both contained in the Democrats’ health care law,” said Ways and Means Chairman Dave Camp (R-MI) in a statement.
The vote passed 23-11.
“AdvaMed is very pleased that Congress has taken the first step to stop the medical device tax, a tax that could cost as many as 40,000 jobs and lead to reductions in research and development that will stifle the search for tomorrow’s treatments and cures,” said Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association.
While coming out of committee with 239 co-sponsors would almost assure it passes through the House, the Massachusetts Medical Devices Journal noted that it has yet to gain traction with Democrats.
The medical journal said that not one Senate Democrat has given support to the repeal.
The device tax is a part of the Patient Protection and Affordable Care Act signed by President Barack Obama.
More commonly known as Obamacare, the bill’s future remains in doubt as a decision from the Supreme Court on its constitutionality is expected in the coming weeks.
Bloomberg reported today that Obama has confided in Democratic donors that the bill may have to be revisited if he wins a second term.
Conversely, a Bloomberg government study released last month said that repealing Obamacare would cost health insurance plans $1 trillion.
Follow staff writer Daniel Riordan on Twitter at @TUNews_Riordan
