Alexander: IRS Mishandling of Medical Device Tax Hurts Tennessee Companies, Costs Jobs
Says inspector general report “should be the final nail in the coffin” for Obamacare’s tax on medical device manufacturers
Washington, D.C., August 19 – U.S. Senator Lamar Alexander (R-Tenn.) made the following statement on the report today from the Treasury Inspector General for Tax Administration on the Internal Revenue Service’s inadequate enforcement of the 2.3 percent excise tax on medical device manufacturers.
“Tennessee companies have been burdened by the outrageous tax, increasing health care costs and costing jobs for Tennesseans. Today's report showing the IRS has no idea how to implement this job-killing tax should be the final nail in the coffin. There is no reason the Senate shouldn’t end this onerous $30 billion tax on revenue that has cost 33,000 jobs, discouraged innovation, and raised the price tag on life-saving medical devices.”
Alexander is a cosponsor of legislation to repeal the 2.3 percent excise tax on medical device manufacturers, the “Medical Device Access and Innovation Protection Act,” which had the support of 79 senators during last year’s budget discussions.
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