A corporate tax reform measure championed by outgoing Sen. Max Baucus (D-Mont.) may be an avenue to repeal a 2.3% medical device tax that Baucus is largely credited with creating, according to tax opponent Sen. Amy Klobuchar (D-Minn.).
Klobuchar told medical device executives at a conference in Minneapolis that she’s confident that the medical device tax, which took effect at the start of the year, may yet still be repealed and that Baucus’ bill may represent an opportunity, according to Minnesota Public Radio.
"That will be a major vehicle for us to include the repeal of the medical device tax or at least some major reduction," Klobuchar said.
Baucus last week announced that he would not stand for re-election at the end of his term, potentially removing a key opponent to the medical device industry’s push to repeal a tax on U.S. medtech sales.
Baucus, as chairman of the powerful Senate Finance Committee, was 1 of the chief architects of Obamacare, helping to negotiate provisions including the medical device tax that’s expected to raise about $30 billion over a decade to help fund healthcare reform.
Although the U.S. House last year passed a measure that would repeal the tax, a companion bill was never taken up in the Senate. Another House repeal bid already has enough co-sponsors to pass through the lower chamber this year.
