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.
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.
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
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.