Category: Capitol Hill
Massachusetts Congressional challenger Seth Moulton vows to fight against the medical device tax, putting fellow Democrat and long-time House incumbent John Tierney on blast.
The medical device tax has long been a rallying point for lawmakers on the right, but the levy is making a cameo appearance in a fight among Democrats looking to represent Massachusetts' 6th District.
Medtronic CEO Omar Ishrak seeks to reassure employees amid the political fallout over the tax inversion aspects of its $43 billion deal to acquire Covidien.
Despite the furor on Capitol Hill, lawmakers aren't likely to produce reform that will hinder Medtronic's $43 billion acquisition of Covidien, according to Morgan Stanley analysts.
Democrats in the Senate and House push a measure to withhold federal contracts from companies that move their headquarters overseas to find better corporate tax rates.
A handful of Democrats in Congress are hoping to curb a corporate exodus by threatening to withhold federal contracts from firms that shift their headquarters overseas to benefit from lower tax rates.
Edwards Lifesciences chairman & CEO Michael Mussallem warns Congress that healthcare regulators and payers are cultivating an "alarming and documented decline in U.S. medical innovation."
Lawmakers aim to prohibit companies from shifting their headquarters overseas in order to evade U.S. taxes, a measure that would apply retroactively to deals such as Medtronic's $43 billion acquisition of Covidien.