S.262 - A bill to repeal the excise tax on medical device manufacturers.112th Congress (2011-2012)
|Sponsor:||Sen. Brown, Scott P. [R-MA] (Introduced 02/03/2011)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 02/03/2011 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.262 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in Senate (02/03/2011)
Repeals the provision of the Internal Revenue Code, added by the Health Care and Education Reconciliation Act of 2010, that imposes an excise tax on medical devices.
Rescinds $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such recissions shall apply and report to the Secretary of the Treasury and Congress on such recissions.