Congressman Jim Banks (IN-03)

Banks: Congress Should Pass Five Year Extension of Medical Device Tax Suspension

Washington, D.C. – Congressman Jim Banks (IN-03) praised the inclusion of a five-year suspension of the medical device tax in a tax reform package expected to be considered by the House sometime this month. The legislation would extend the current suspension of the medical device tax through 2024.

“The potential return of the medical device tax could jeopardize thousands of Hoosier jobs, which is why this tax must never go back into effect,” said Banks. “I have fought to eliminate this misguided tax since taking office, and I strongly support an additional five-year suspension. Congress should pass this legislation before the end of the year.”

The medical device tax first took effect in 2013. Congress suspended the tax for 2016 and 2017 and then extended the suspension for 2018 and 2019.

Earlier this year, Congressman Banks voted for legislation to permanently repeal the medical device tax. The legislation passed the House but has not been considered by the Senate.

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