If Donald Trump wins the presidential election next month, his administration would reportedly repeal the medical device tax, former Health & Human Services Dept. secretary Tommy Thompson said this week at the annual AdvaMed conference in Minneapolis. A representative from the campaign of Trump opponent Hilary Clinton, Aneesh Chopra, said Clinton doesn’t have a comment 1 way or the other […]
medicaldevicetax
Survey: Medical device tax suspension boosts jobs, innovation
A survey of CEOs and board members at the Medical Imaging & Technology Alliance showed that the 2-year suspension of the medical device tax is resulting in increased hiring and more spending on research and development. President Barack Obama in December 2015 signed into law an omnibus tax and spending bill that pauses the medical device […]
Boston Scientific CMO Dawkins: Rivals spent $1.5B on 80 patients and half are dead
Medical device acquirers spent something in the neighborhood of $1.5 billion over the past few months on transcatheter mitral valve replacement acquisitions to treat just 80 patients, half of whom are now dead, Boston Scientific (NYSE:BSX) chief medical officer Dr. Keith Dawkins said today. “There’s been, really [since] a few months ago, $1.5 billion, roughly, spent […]
Stryker shares tick up on raised earnings outlook
Stryker (NYSE:SYK) shares ticked up today after the medical device company yesterday raised the low end of its earnings outlook and reported 4th-quarter preliminary results that met expectations on Wall Street. Kalamazoo, Mich. based Stryker said it now expects to post adjusted earnings per share of $5.09 to $5.12, up from prior guidance of $5.07 […]
Paulsen: Medical device tax pause a window for full repeal
The 2-year pause on the medical device tax enacted last week is an opportunity to push through a full repeal of the 2.3% revenue tax, Rep. Erik Paulsen (R.-Minn.) told MassDevice.com. “The next key step is just making sure the device tax repeal is permanent. So we essentially have a 2-year period to make sure that happens,” said Paulsen, who […]
Obama signs medical device tax pause into law
President Barack Obama last week signed into law an omnibus tax and spending bill that pauses the medical device tax for 2 years, hours after the U.S. Senate approved the $1.8 trillion measure on a 65-33 vote. The 2-year pause on the medical device tax, a 2.3% levy on all U.S. sales of medical devices, is estimated to cost […]
UPDATE: Senate sends medical device tax pause to Obama
UPDATED Dec. 18, 2015, with news of Senate approval. The U.S. Senate today approved a $1.8 trillion spending and tax package, including a 2-year moratorium on the medical device tax. The Senate voted 65-33 to approve the omnibus bill and its pause on the 2.3% levy on U.S. sales of medical devices. The measure would also […]
Medical device tax delay would cost $3.4B
UPDATED Dec. 17, 2015, with news of House vote advancing omnibus bill, passing tax bill. The 2-year delay of the medical device tax would take $3.4 billion from the federal budget in 2016 and 2017, according to an estimate from the non-partisan Joint Committee on Taxation. The 2.3% excise tax, enacted in 2010 as part of […]
Funding pact includes pause for medical device tax
The $1.6 trillion deal struck last night on Capitol Hill to fund the government includes a provision that would put a 2-year pause on Obamacare’s medical device tax. The agreement, revealed by U.S. House leader Rep. Paul Ryan (R-Wis.) during a conference call last night with Republican leaders, delays the 2.3% revenue tax on U.S. […]
Report: Congress on the cusp of freezing medical device tax
The U.S. Congress is reportedly on the cusp of agreeing on a 2-year freeze of the medical device tax and another tax enacted as part of Obamacare. The freeze is part of a 10-year, $500 billion tax package that would pause the 2.3% levy on U.S. sales of prescribed medical devices, as well as the so-called […]
Dems fear thin end of wedge in proposed medical device tax delay
Democrats in the U.S. Senate this week said they’re wary that a proposed delay of the medical device tax and another Obamacare tax would be the thin end of the wedge, opening up the Affordable Care Act to other industries looking to evade the healthcare law. Republicans and Democrats in Congress are reportedly close to striking […]