Two of Indiana's Republican Representatives in Congress are among 17 lawmakers who signed a letter Tuesday asking House Speaker Paul Ryan to fast-track consideration of a bill that would permanently repeal the Medical Device Tax. Representatives Jim Banks and Trey Hollingsworth support the proposal, along with more than 200 legislators are co-sponsoring the House bill.
Congress passed a two-year suspension of the 2.3 percent excise tax at the end of 2015, but medical device manufacturers want a permanent solution.
In the letter, the lawmakers say the tax "subjects the U.S. device industry to one of the highest corporate tax rates in the world." The letter says companies are cutting back on research and development to offset the costs of the tax.
This isn't the first time Congress has tried to do away with the Medical Device Tax. They've unsuccessfully backedsimilar bills under the Obama administration.