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ID HJM006
JM
Status
2/24/2014
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Urges the Secretary of the United States Department of Health and Human Services to suspend all Patient Protection and Affordable Care Act (PPACA) taxes on the healthcare industry pending a national review of their impact
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Identifies the medical device excise tax as a 2.3% tax on manufacturers, producers, and importers of medical devices
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Estimates the medical device excise tax will impose approximately $29 billion in tax burden over 10 years and may discourage innovation
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Cites the complexity of medical devices with multiple components and lack of Internal Revenue Service guidance as obstacles to proper tax implementation
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Directs the House Chief Clerk to transmit the memorial to Congress, the President, Secretary of Health and Human Services, and Idaho's congressional delegation
Legislative Description
Stating findings of the Legislature and urging the Secretary of the United States Department of Health and Human Services to suspend the imposition of the PPACA taxes on the healthcare industry and to conduct a national review of the impact of these taxes until such time as a clear understanding of their impact can be determined.
PATIENT PROTECTION AND AFFORDABLE CARE ACT
Last Action
Delivered to Secretary of State at 4:28 p.m. on March 19, 2014
3/20/2014