medical device tax

In order to pay for the Nation’s new healthcare program, the IRS hopes to raise $30 billion and they don’t plan on having a bake sale to get the cash. Under the Health Care and Education Reconciliation Act (P.L. 111-152) a 2.3% excise tax will be levied on medical equipment starting January 1st, 2013. Amid growing fears that the tax will have far reaching and negative impacts on the healthcare system, both Democrats and Republicans are coming together in hopes of repealing the excise tax.