Medical device tax: Repeal efforts double down on tax reform
The re-election of President Barack Obama doesn't bode well for opponents of the 2.3% medical device tax created by the Affordable Care Act.
Efforts to repeal the medical device tax took a harsh blow last night when incumbent President Barack Obama beat out challenger Mitt Romney to reclaim his seat in the White House.
Some medical device industry stakeholders had hoped that a change in leadership and the subsequent repeal of the President Barack Obama's landmark healthcare reform measures would bring down the 2.3% medical devices sales tax contained in the Affordable Care Act.
With President Obama at the helm for another 4 years, device makers may need to resort to 'Plan B' to repeal the tax, which means talking tax reform rather than healthcare reform.