Medical device tax set but industry still fighting-politico: The
IRS has finalized details on the new medical device tax — as the medical device
industry has redoubled its efforts to get it repealed. The 2.3 percent excise
tax on many medical devices, which is part of the 2010 health care law, takes
effect Jan. 1. On Wednesday, an Internal Revenue Service final rule detailed
plans to levy the tax. It was originally projected to raise up to $20 billion
in revenues over 10 years, but the Joint Committee on Taxation later estimated
it would be around $29 billion.
