By Brad Perriello
House Democrats float another bid to repeal the medical device tax, mirroring a similar Senate bill that would replace the revenues by closing tax loopholes for the energy industry.
House Democrats last month introduced yet another bill that would do away with the medical device tax enacted as part of Obamacare.
Sponsored by Rep. Alma Adams (D-N.C.), H.R. 1533 or the “Medical Device Tax Elimination Act” mirrors a similar bid in the Upper Chamber put up by Sen. Ed Markey (D-Mass.). Both bills would replace revenues lost by repealing the tax by closing loopholes for the oil & gas industry.
The House bill is co-sponsored by 4 Democrats in addition to Adams: Reps. Matthew Cartwright of Pennsylvania, Brian Higgins of New York, Jared Polis of Colorado and Niki Tsongas of Massachusetts.
Markey’s bill, S. 844 or the “No Taxation on Device Innovation Act,” has no co-sponsors.
I was asked to testify last Wednesday, April 15th, before the Joint Economic Committee on the destructive nature and harm the Medical Device Tax has caused the medical device industry as a whole and small business in particular. It seemed well received and that most of the panel was behind the repeal. I thought there was already a Paulsen Bill out there doing the same thing? I am curious how this Bill and the Senate Bill differ?