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House approves Paulsen bill repealing medical device tax

Minnesota Republican Erik Paulsen's bill exempting medical device manufacturers from a new health care tax has passed the House. But it may not get any farther. Democrats in the Senate are not likely to take up the measure. The White House says it will be vetoed if it gets to the president's desk.
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Minnesota Republican Erik Paulsen's bill exempting medical device manufacturers from a new health care tax has passed the House. But it may not get any farther. Democrats in the Senate are not likely to take up the measure. The White House says it will be vetoed if it gets to the president's desk.

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White House threatens to veto bill repealing medical-device tax

The U.S. House is expected to vote Thursday on legislation to eliminate a 2.3 percent excise tax on medical devices, included in President Obama's health-reform law. The bill is proposed by Minnesota Republican Congressman Erik Paulsen. The Business Journal notes the tax, set to go into effect next year, would impact large companies like Fridley-based Medtronic Inc. and Little Canada-based St. Jude Medical Inc.

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Last week's House passage of H.R. 436, the Health Care Cost Reduction Act, was a victory for Rep. Erik Paulsen, its sponsor. The Minnesota Republican's political success may provide a boost to his investment portfolio, as well, the congressional watchdog site Open Secrets reports. The bill, if passed by the Senate and signed into law, would repeal an excise tax on medical devices. That includes devices sold by two companies that Paulsen owns stock in.

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