H.R. 734 · 112th Congress
To amend the Internal Revenue Code of 1986 to repeal the medical device tax, and for other purposes.
- Stage
- In committee
- Sponsor
- Brian Bilbray
- Introduced
- 2011-02-16
- Latest action
- 2011-02-16 · Introduced in House
Summary
Repeals the provision of the Internal Revenue Code, added by the Health Care and Education Reconciliation Act of 2010, that imposes an excise tax on medical devices.
Rescinds $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such recissions shall apply and report to the Secretary of the Treasury and Congress on such recissions.