Schumer Supports Repealing Medical Device Tax
Tuesday, February 17, 2015
Source: Post Star
U.S. Sen. Charles Schumer, D-N.Y. said he supports repealing the federal excise tax on medical devices.
“That’s one of the issues I’ve been talking about with my Republican colleagues. I’m for repealing the device tax because it hurts jobs here in the North Country -- in Glens Falls area,” Schumer said Tuesday when asked about the topic at a press conference at Finch Paper in Glens Falls.
“It hurts jobs in other parts of New York state. Syracuse -- Welch Allyn is one of the biggest employers there. I just met with the CEO of Welch Allyn last week,” Schumer said. “I’m very optimistic we can get some kind of repeal.”
Medical device makers began paying the 2.3 percent tax on revenue in January 2013. The money goes toward programs in President Barack Obama’s health care reform plan.
Schumer said negotiation continues about how to fund those programs without revenue from the tax.
“That’s one of the issues that we’re discussing: ‘Does it have to have an offset? And what should that offset be?’” he said.