House introduces bill to permanently repeal medical device tax: 4 things to know

Eric Oliver -  

Reps. Erik Paulsen (R-Minn.) and Ron Kind (D-Wis.) introduced the Protect Medical Innovation Act of 2017 to permanently repeal the 2.3 percent medical device excise tax enacted on Jan. 3, 2017, the Minnesota Star Tribune reports.

Here's what you need to know.

 

1. If the bill passes, the legislators will permanently repeal the tax.

 

As part of the bill, the federal government will scale back $2.5 billion in federal funding, Mass Device reports.

 

2. Legislators suspended the tax for two years in December 2015.

 

3. Medical device lobbying group AdvaMed joined several lobbying groups supporting the bill.

 

In a statement, AvaMed CEO Scott Whitaker said legislators need to fully repeal the device tax needs to ensure innovation can continue.

 

4. This is the fourth time Rep. Paulsen has attempted to repeal the medical device tax.

 

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