By Ellen Juram, Principal
The Senate overwhelming passed a resolution Thursday calling for the repeal of the 2.3 percent medical device tax – which is a key component of President Obama’s healthcare reform law, and which went into effect this year.
The resolution is largely symbolic; a separate bill must be passed in order to actually repeal the tax. But it is interesting to note that the resolution had bipartisan support in the Senate: It was introduced by Republican Orrin Hatch of Utah and Democrat Amy Klobucher of Minnesota, and it passed by a vote of 79-20.
The tax is expected to raise $30 billion over the next 10 years. Any bill that would seek to repeal the tax would also have to replace that $30 billion in revenue.