Minnesota Congressman Introduces Legislation to Repeal the Medical Device Tax
BY LAUREN UZDIENSKI, APRIL 26, 2010
During the long debate over the final version of the heatlhcare reform package, Rep. Erik Paulsen fought to have the 2.3% excise tax on the medical device industry dropped from the legislation. The tax stayed in, but Paulsen hasn't given up on sparing the industry the burden of the tax, which is expected to raise $20 billion over a decade. Last week, Rep. Paulsen introduced a bill that would immediately repeal the tax.
The Defend Medical Innovation Act has 26 co-sponsors, according to a press release on Paulsen's website. The Congressman argues that the tax will "harm job growth, slow innovation and raise costs."
With the legislation just introduced last week, it's unclear at this point if the bill will have a life outside a committee vote. Still, Rep. Paulsen is showcasing his commitment to the medical device industry. He represents Minnesota, which is, of course, the home of Medtronic and a national hotbed of medical-device innovation and development. Currently a first-term Congressman, he's running for reelection in Minnesota's Third District in the fall.
