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H.R. 184 (115th): Protect Medical Innovation Act of 2018

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The text of the bill below is as of Jul 26, 2018 (Placed on Calendar in the Senate). The bill was not enacted into law.

Summary of this bill

Should medical devices be taxed to help pay for Obamacare?

Context

The Affordable Care Act, more commonly known as Obamacare, imposed a 2.3% tax on imported medical devices. (There were a few exceptions, such as for devices directly available for purchase by consumers.)

The medical device industry, which opposed the tax, claims to account for more than half a million American jobs and $150 million to the economy. The IRS reported that about a quarter of the intended revenue from the tax was going uncollected.

Once Republicans took over both chambers of Congress in 2015, the tax was temporarily suspended for the two years of 2016–17. President Obama signed …

II

Calendar No. 528

115th CONGRESS

2d Session

H. R. 184

IN THE SENATE OF THE UNITED STATES

July 25, 2018

Received; read the first time

July 26, 2018

Read the second time and placed on the calendar

AN ACT

To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.

1.

Short title

This Act may be cited as the Protect Medical Innovation Act of 2018.

2.

Repeal of medical device excise tax

(a)

In general

Chapter 32 of the Internal Revenue Code of 1986 is amended by striking subchapter E.

(b)

Conforming amendments

(1)

Subsection (a) of section 4221 of such Code is amended by striking the last sentence.

(2)

Paragraph (2) of section 6416(b) of such Code is amended by striking the last sentence.

(c)

Clerical amendment

The table of subchapters for chapter 32 of such Code is amended by striking the item relating to subchapter E.

(d)

Effective date

The amendments made by this section shall apply to sales after December 31, 2019.

Passed the House of Representatives July 24, 2018.

Karen L. Haas,

Clerk

July 26, 2018

Read the second time and placed on the calendar