Republican legislation that looks to dismantle and replace Obamacare is facing serious opposition from many angles, including from hardline conservatives and the American Medical Association.
Republican U.S. House of Representatives leaders yesterday released their new legislation which looks to eliminate Obama’s Affordable Care Act, including the medical device tax.
The plan would also eliminate more than $500 billion in federal revenue, according to the Joint Committee on Taxation. The committee estimated that a delay of the “Cadillac tax” on high-cost health plans, set to go into effect in 2020 and delayed to 2025, would cost an estimated $48.7 billion in tax revenue.
A repeal of the 2.3% medical device tax would cost $19.6 billion over 10 years, the committee said. In addition, repealing the tax on brand pharmaceutical companies would cost $24.8 billion, repealing the health-insurance tax would cost an additional $144.7 billion. Repeal of the 10% indoor tanning service would cost $600 million.
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