House committee seeks to extend medical device tax suspension for 5 more years — 5 insights

The U.S. House Ways and Means Committee wants to extend the medical device tax suspension for five more years, the Minnesota StarTribune reports.

Here's what you should know:

1. Reps. Erik Paulsen, R-Minn., and Jackie Walorski, R-Ind., introduced a bill which would extend the tax's suspension through 2022.

2. Device companies will pay a 2.3 percent sales tax on gross receipts from medical device sales in 2018, unless an extension passes.

3. Mr. Paulsen said to the StarTribune that a full repeal is his top priority.

4. Until he can attempt to repeal the device tax permanently, Mr. Paulsen is attempting to delay the tax once again.

5. Several of Mr. Paulsen's top campaign contributors are healthcare companies, according to Ballotpedia.

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