Under new legislation from the U.S. House of Representatives, the tax on medical device sales could remain suspended, according to Forbes.
Here are five insights:
1. The ACA includes a 2.3 percent tax on medical device sales. However, the sales tax has been suspended since the beginning of 2016.
2. The sales tax suspension will expire at the end of the year. Legislators are looking to permanently repeal the medical device tax.
3. Reps. Erick Paulsen, R-Minn., and Jackie Walorski, R-Ind., proposed legislation the medical device tax for another five years.
4. Throughout 2013, 2014 and 2015 the IRS collected between $1 billion and $2 billion each year from the medical device tax. The Joint Committee on Taxation estimates repealing the sales tax would cost $20 billion over the next 10 years.
5. While it is unclear what piece of legislation the medical device tax will be connected to, in the past Congress has tried to repeal the tax through their efforts repealing the ACA.