Healthcare Industry Prepares for ObamaCare Medical Device Tax

By:  Brian Koenig
12/13/2012
       
Healthcare Industry Prepares for ObamaCare Medical Device Tax

Responding to a “devastating” new medical device tax, lawmakers are scrambling to delay ObamaCare’s latest job-killing provision.

Responding to the “devastating” medical device tax provisioned under President Obama’s Affordable Care Act, Republicans, industry lobbyists, and even some Democrats are scrambling to delay or eliminate altogether the job-killing provision in the law. The National Republican Congressional Committee (NRCC) is targeting a number of top House Democrats on the burdensome tax.

The NRCC released statements calling for Democratic leaders, including Democratic Congressional Campaign Committee Chairman Steve Israel (D-N.Y.) and National Committee Chairwoman Debbie Wasserman Schultz (D-Fla.), to sign a petition to halt the “job-killing medical device tax.”

Furthermore, a group of 17 Senate Democrats have signed a letter urging to delay implementation of the medical device tax, which is slated to go into effect January 1. Interestingly, the very culprits who are responsible for ObamaCare’s passage are attempting to “delay,” or possibly repeal, this contentious element of the law, cautioning that it could liquidate jobs and curb innovation in the healthcare sector. Guy Benson, political editor at Townhall.com, explains:

U.S. Sen. Bob Casey and 16 other Senate Democrats want the medical device tax — included in the 2010 healthcare reform law that they supported — postponed. The 2.3 percent excise tax that devicemakers must pay on their gross sales goes into effect on Jan. 1. It's one of the new revenues used to offset the cost of the healthcare law. The Internal Revenue Service issued Wednesday its final rules on the tax, which will impact profits on items such as high-tech burn treatments, catheters, back braces and in-home HIV tests. Casey signed a letter to Senate Majority Leader Harry Reid this week asking that he support delaying implementation of the tax. Casey supports fully repealing it. "With this year quickly drawing to a close, the medical device industry has received little guidance about how to comply with the tax — causing significant uncertainty and confusion for businesses," the senators wrote.

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