Citing the damaging impact the device tax may have on jobs, Congressman Brian Bilbray (R-CA) introduced the Medical Device Tax Repeal Bill, or H.R. 5615. Representative Bilbray joins others in the legislature moving to repeal the tax, including Minnesota Congressman Erik Paulsen, whose Defend Medical Innovation Act has been in committee since April.
The tax, which was part of the healthcare reform package passed earlier this year, is expected to raise $20 billion over ten years in the form of a 2.3% excise tax on devices. Opponents of the bill say it will result in job losses and stifle innovation, with Representative Bilbray concluding, "You don't kill health care jobs to pay for health care . . . Raising taxes on our medical device manufacturers does nothing to get anyone back to work."
