Medical Device Tax
HIDA And Its Members’ Efforts Pay Off With Permanent Repeal Of The Medical Device Tax
President Trump signed into law late last year a full and permanent repeal of the 2.3% excise tax on medical devices as part of a broader deal to fund the government.
HIDA members rallied for a decade to definitively end the tax, which was created as part of the Affordable Care Act in March 2010 but suspended several times since its inception.
The repeal is a huge win for the industry, the nation’s economy, and for medical innovation. It demonstrates the value of remaining engaged with policymakers. By abolishing the tax, the medical industry has a greater ability to make multi-year investments in research and development, hiring, and growth.