Budgetary Fund Could Pay to Eliminate Medical Device Tax

A fund has been established by the federal budget plan that would pay for the repeal of the medical device excise tax, according to a Fort Wayne Journal Gazette report. The 2.3 percent tax can only be abolished by Congress and the president, but the deficit-neutral reserve fund gives hope to tax opponents and allows budget writers to reallocate pay for certain aspects of legislation.

The provision is a bipartisan effort to do away with the tax, which took effect at the beginning of 2013.

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