U.S. Sen. Orrin Hatch (R-UT) has announced legislation that would repeal the medical device tax included in the Patient Protection and Affordable Care Act (PPACA).
Under PPACA, medical devices ranging from surgical tools to bedpans will be taxed 2.3% to raise $28.5 billion in revenue over 10 years, according to Hatch. Hatch's amendment would immediately repeal the tax, which is slated to take effect in 2013.
"One way or another, the whole law has to go -- that is something Republicans will never stop fighting for," Hatch said in a statement. "With this amendment, we are shining a spotlight on why the $28.5 billion tax hike hurts economic growth, job creation, and innovation. Scrapping this tax would ensure medical device manufacturers can invest in hiring new workers and developing innovative 21st-century, lifesaving medical devices."
