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Health Reform Bill Would Tax $20 billion On Device Makers

The US House of Representatives passed a landmark, $1 trillion health system reform legislation on November 7, 2009. The House approved the Affordable Health Care for America Act by a vote of 220 to 215. Under the House bill, medical technology industry would face a $20 billion tax over 10 years on many of its products. The House bill also includes a 2.5% excise tax on the wholesale prices of medical devices sold in the US beginning in January 2013.

The US Senate Finance Committee has proposed medical device makers to pay up to $40 billion in taxes over 10 years in its healthcare reform bill on October 13, 2009.