November 9, 2017


House Republicans released their highly anticipated tax plan yesterday aimed at simplifying the tax code. The bill is scheduled to start being marked up in the Ways and Means Committee on Monday, November 6. This short turnaround between the bill’s release and committee markup indicates House leadership’s desire to move quickly on the legislation and they are likely to attempt to bring the bill to the floor for a vote before the Thanksgiving recess.

 

HIDA Government Affairs has begun to review the proposal and highlighted key points for the healthcare supply chain.

  • No repeal of medical device tax: While the bill did not include a full repeal of the medical device tax, there are discussions for an extension of the current moratorium to be attached to one of the “must pass” legislative items before Congress adjourns at the end of the year.
  • No border adjustment tax:The controversial measure was not included in the tax overhaul, meaning we are unlikely to see the issue proposed again in the near future.

If Republican leadership is successful in passing the tax plan through the House it will continue to the Senate, where under the rules of reconciliation, it only needs 51 votes for passage.

 

The HIDA Government Affairs team will continue to monitor the GOP tax plan and provide updates as they are relevant. Please feel free to reach out to HIDA Government Affairs with any questions at HIDAGovAffairs@HIDA.org or at 703-549-4432.