Device tax: Sens. Hatch and Klobuchar Offer Amendment to Help Off-Set Repeal
A bipartisan duo of Senators offers an amendment that could help off-set the cost of the medical device tax, which is expected to raise $30 billion over about a decade.
A bipartisan Senate duo proposed a novel amendment that could help off-set some of the cost of repealing the 2.3% medical device sales tax.
Senators Amy Klobuchar (D-Minn.) and Orrin Hatch (R-Utah) offered a non-binding amendment that would establish a deficit-neutral reserve fund, which is to be offered alongside the Senate budget resolution that's already under negotiations.
The measure could represent an important step forward for device tax repeal efforts, which have been stymied by the lack of a pay-for to make up for the $30 billion the tax is slated to generate in federal revenue over the course of about 10 years.