Congressional Research Service Refutes Device Tax Claims, Puts Tax Foes in a Bind
Saturday, January 24, 2015
Source: Star Tribune
Projections from the oft-cited Congressional Research Service say the medical device industry will pass most of the cost of a politically embattled tax on to consumers.
The 2.3 percent sales tax on medical devices, which the government started collecting in 2013, will cost device makers very few jobs and research dollars, the research service — known as CRS — said in a detailed report it recently updated.
The latest version of the 2014 report came just days after Republican Rep. Erik Paulsen of med-tech-rich Minnesota introduced a bill to kill the tax and just days before Democratic Sens. Amy Klobuchar and Al Franken of Minnesota signed on to a device tax repeal bill in the Senate.