February 12, 2015 by Brad Perriello
A Minnesota House committee reportedly approves a bill to expend a tax credit to medical device companies to cover the 2.3% sales levy that’s part of Obamacare.
A bill that would extend a credit to medical device companies in Minnesota to cover the medical device tax reportedly passed a North Star State House committee yesterday.
The medical device tax, a 2.3% excise levy on all U.S. sales of prescribed medical devices, went into effect at the beginning of 2013 as part of Obamacare. The tax has been the object of a repeal movement among national legislators, and states like Minnesota and Massachusetts with large medtech contingents are exploring credits to offset the tax.
The Minnesota House Health & Human Services Reform Policy Committee approved the tax credit measure yesterday, according to the Rochester Post-Bulletin, with sponsor Rep. Greg Davids (R-Preston) calling the medtech tax “tremendously unfair.”
“This is an ill-conceived tax for an ill-conceived program that has failed,” Davids told the newspaper.
