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To: richardred who wrote (1567)	3/26/2013 11:00:10 AM
From: richardred	2 Recommendations Read Replies (3) \| Respond to of 3363

Is medical device tax next piece of Obamacare to be scrapped? The medical device industry scored a victory in its effort to repeal a new excise tax, but the battle isn't over. The Senate voted 79-20 last week to repeal a 2.3 percent excise tax on medical devices, dealing a blow to one of the new taxes imposed to pay for health care reform. The vote isn't binding -- it came on an amendment to the Senate's budget resolution, which is only a framework for future policy. But it showed there's bipartisan support for ditching this tax. Democrats in states with strong medical device industries, such as Minnesota, joined Republicans in voting to repeal it. The tax went into effect in January and already has cost companies $388 million, according to the Medical Device Manufacturers Association. The tax is "a drain on innovation, on job creation and on our ability to provide groundbreaking medical innovations to patients," said Sen. Orrin Hatch of Utah, who is the ranking Republican on the Senate Finance Committee, which has jurisdiction over tax legislation. bizjournals.com