January 12, 2018

Springfield Republican: US Sens. Ed Markey, Elizabeth Warren push bill to repeal medical device tax

U.S. Sens. Ed Markey and Elizabeth Warren, D-Massachusetts, announced legislation this week that seeks to end the Affordable Care Act's excise tax on medical devices.

The senators, who unveiled their so-called "No Taxation on Device Innovation Act" Thursday, said the measure would eliminate the 2.3 percent excise tax the controversial health care law imposed on devices ranging from surgical tools to pacemakers.

The bill, they added, would offset the cost of repealing the tax, which was reinstated on Jan. 1 after Congress suspended it for two years, by ending a projected $29 billion in tax breaks for oil companies over the next decade.

Read the full article on the Springfield Republican's website here.