Federal Spotlight: House Passes Repeal of Medical Device Tax
August 2, 2018
The U.S. House of Representatives voted 283-132 to rescind the medical device tax last week. H.R. 184 annuls the 2.3 percent excise tax set upon the domestic sales of medical devices. The bill received wide bipartisan support with 57 Democrats joining Republicans in pulling back the levy. All four of Iowa’s Congressmen voted in favor of the legislation. It was created, in part, to help finance the Affordable Care Act. It went into effect in 2013, but was temporarily suspended in 2015 and is currently suspended until 2020. Both sides of the aisle have criticized the tax for harming innovation, hurting job growth and limiting sales. The bill faces an uncertain future in the U.S. Senate.