Medical device manufacturers were pleasantly surprised when the U.S. Senate approved a nonbinding budget amendment on March 22 supporting repeal of the Affordable Care Act’s tax on the businesses’ revenue, a key feature of the new health care law.
The 2.3 percent tax on most types of medical devices became effective Jan. 1 as a way to help pay for provisions of Obamacare. The tax is levied on revenue, not profit, which manufacturers point out is especially harmful for small and medium-sized…
Medical device manufacturers were pleasantly surprised when the U.S. Senate approved a nonbinding budget amendment on March 22 supporting repeal of the Affordable Care Act’s tax on the businesses’ revenue, a key feature of the new health care law.
The 2.3 percent tax on most types of medical devices became effective Jan. 1 as a way to help pay for provisions of Obamacare. The tax is levied on revenue, not profit, which manufacturers point out is especially harmful for small and medium-sized…