Here are five things to know:
1. The 2.3 percent medical device sales tax originally went into effect on Jan. 1, 2013 and served as a funding mechanism for extending healthcare coverage to the uninsured under the ACA, according to Med Device Online.
2. By increasing the number of insured patients in the U.S., the ACA increased the number of medical devices used.
3. Medical device companies have framed their anti-device tax stance as a fight for jobs, according to Reuters. They have argued the tax would force them to cut jobs and innovation.
4. Industry complaints caused Congress to temporarily suspend the tax, which formally expires at the end of 2017, at the beginning of 2016 after it had been in place for three years. Yesterday’s legislation calls for the tax’s permanent repeal.
5. Vice President Mike Pence is the former governor of Indiana, which with over 150 medical device companies houses the U.S.’ fifth largest medical device industry, according to Bio Crossroads.
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