President Donald Trump has signed into law the 2020 federal spending package, which includes a provision to permanently repeal the 2.3% medical device excise tax. Trump signed off on the spending bills on Dec. 20, providing the medical device industry a win that it has sought for nearly a decade. The tax was part of […]
medical device tax
Permanent repeal of medical device tax headed to president’s desk
This article has been updated with comments from the Medical Alley Association and the Massachusetts Medical Device Industry Council (MassMEDIC). Both houses of Congress have now passed the 2020 federal spending package, which includes a provision to permanently repeal the 2.3% medical device excise tax. The package of eight spending bills awaits the signature of […]
Medical device tax on track for permanent repeal
A bipartisan spending bill unveiled today by Congressional leaders would permanently repeal the 2.3% medical device excise tax. The spending bill, which must pass both houses of Congress and be signed by President Trump to take effect, would fulfill the widespread wishes of the medtech industry. The tax went into effect in 2013 and has […]
Medical device excise tax would reduce R&D spending, report says
The medical device excise tax will reduce research and development spending and impede innovation if reinstated in 2020, according to a report from Minnesota trade group Medical Alley Association. In the report, Medical Alley surveyed its members that will be affected by the return of the tax on Jan. 1, 2020. About 83% of survey […]
Medical device tax will cost 20,000 jobs, report says
The medical device excise tax could result in a loss of 21,390 full-time jobs and a GDP reduction of $1.7 billion, according to a report from the Tax Foundation, a nonpartisan, business-friendly think tank. According to the report, the tax is projected to raise about $25 billion over the next 10 years. Other research from […]
