Senate Bill Has Hefty Device Tax
A healthcare reform bill presented by Senator Max Baucus (D-Montana) contains a $4 billion tax on medical device manufacturers and importers.
Baucus, chairman of the Senate Finance Committee, issued a bill that includes an annual fee on medical device manufacturers and importers that would generate $4 billion annually to help pay for healthcare reform.
The aggregate fee that a company would pay each year is based on that company’s relative market share of domestic sales for the prior year, according to the bill.
The Senate Finance Committee will meet the week of Sept. 21 to vote on the plan. If the legislation is signed into law, the fee would take effect for calendar year 2010 and thereafter. To read the bill, click here.