Republican Knives out for Obama's Medical Devices Tax
Wednesday, November 12, 2014
Republicans in the U.S. Congress will soon move to kill a medical device tax imposed less than two years ago under President Barack Obama's healthcare law, congressional aides and analysts said on Wednesday.
The 2.3-percent excise tax on sales of most medical devices sold in the United States helps fund the law, known as Obamacare, and applies to products ranging from bedpans to heart pacemakers. It took effect in January 2013 and is projected to raise about $30 billion a year in government revenue over 10 years.