Stalled GOP health plans leave device tax repeal unclear
Paulson, president of
Paulson calls the levy "an abhorrent penalty" on small companies like his because "it is a tax on revenue, not on profit."
"The current expectation," he said, "is that it is not coming back."
Yet as things stand, collection of the medical device tax is only suspended until the end of 2017. Despite the device industry's seven-year investment of tens of millions of dollars in lobbying and campaign contributions to kill it, the device tax refuses to die.
Now, with the
"I'm frustrated," AdvaMed CEO
Whitaker mentioned placing a device-tax-killing amendment on an upcoming
A spokesman said
A spokeswoman for Sen.
Franken and Klobuchar voted for the medical device tax in 2010 as part of President
The
The
The latest budget estimates show repeal of the tax will remove
Most of those opposed to the tax believe it will never be revived. But the dysfunction in D.C. has some on edge. Many
Rep.
"Everyone recognizes this is bad policy," Paulsen said. He called killing the tax "a no-brainer." Then, he conceded that
How much the device tax is hurting the device industry is still a matter of debate. Device makers say it has scared off venture capital and cost tens of thousands of jobs and millions of dollars in research and development. A
How long the tax stays depends largely on how willing members of
Mandle "cannot imagine a scenario where we get to January and
As he considers linking device tax repeal to bills dealing with
By year's end, though, Mandle, Whitaker and entrepreneurs like Paulson will begrudgingly take whatever they can get, including suspension rather than repeal.
"While we'd be grateful for anything beyond a tax increase," Whitaker said, "that's not the right health policy or tax policy solution."
___
(c)2017 the Star Tribune (Minneapolis)
Visit the Star Tribune (Minneapolis) at www.startribune.com
Distributed by Tribune Content Agency, LLC.
For loyal Macon County Trump backers, a campaign message still rings true
RGV Pharmacy Owner and Marketer Arrested In Connection with Health Insurance Fraud Scheme
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News