Senators introduce legislation to repeal medical device tax

A full repeal of the recently revived U.S. medical device tax could be on the horizon. Sen. Edward J. Markey, D-Mass., and Sen. Elizabeth Warren, D-Mass., announced new legislation, nicknamed the "No Taxation on Device Innovation Act", which would permanently end the Affordable Care Act's medical device excise tax.

"The bill would offset the cost of repealing the tax, which was reinstated on Jan. 1 after Congress suspended it for two years, by ending a projected $29 billion in tax breaks for oil companies over the next decade," said the Senators in an interview with Shannon Young from MassLive.com.  

According to a recent article by Radiology Business, organizations such as the Medical Imaging and Technology Alliance and the Advanced Medical Technology Association are just a few groups pushing Congress to fully repeal the tax.  

The tax, which has been suspended for the last two years until recently returning on Jan. 1, puts a mandatory 2.3 percent sales tax on medical devices.