Whether it's Hillary Clinton or Donald Trump in the White House next year, the election could mean change is coming to the medical technology industry, Bloomberg reports.
Here's what you should know.
1. Former HHS Secretary Tommy Thompson said Mr. Trump supports repealing the medical device excise tax.
2. Former U.S. Chief Technology Officer for President Barack Obama Aneesh Chopra said Hillary Clinton has no official position on the medical device excise tax, but has a history of "negotiating with Congress" to move her agenda forward. "Everything will be considered while she and her transition team determine how to pass healthcare legislation in 2017 and beyond," Ms. Chopra said.
3. The 2.3 percent excise tax is supposed to go back into effect Jan. 1, 2018.
4. Several representatives of the device industry have said the tax was confusing and "negatively affects" technology companies.
5. Mr. Thompson predicted a scenario where Ms. Clinton wins, and the Senate falls under Democratic control while the Republicans "more than likely" maintain control of the House. He predicts Ms.Clinton would suspend the tax for 2018 and beyond, if that is the case.
Mr. Thompson added if Mr. Trump was to win, the Republican Party would retain control of Congress, and he would expect a full repeal of the tax.
6. Bloomberg Intelligence Analyst Brian Rye predicted the medical technology industry will exert pressure on the coming administration to repeal the device excise tax.
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