[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 262 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                 S. 262

       To repeal the excise tax on medical device manufacturers.


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                   IN THE SENATE OF THE UNITED STATES

                            February 3, 2011

  Mr. Brown of Massachusetts introduced the following bill; which was 
          read twice and referred to the Committee on Finance

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                                 A BILL


 
       To repeal the excise tax on medical device manufacturers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF MEDICAL DEVICE EXCISE TAX.

    Subsections (a), (b), and (c) of section 1405 of the Health Care 
and Education Reconciliation Act of 2010, and the amendments made 
thereby, are hereby repealed; and the Internal Revenue Code of 1986 
shall be applied as if such section and amendments had never been 
enacted.

SEC. 2. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS IN REVENUES.

    (a) In General.--Notwithstanding any other provision of law, of all 
available unobligated funds, $39,000,000,000 in appropriated 
discretionary funds are hereby rescinded.
    (b) Implementation.--The Director of the Office of Management and 
Budget shall determine and identify from which appropriation accounts 
the rescission under subsection (a) shall apply and the amount of such 
rescission that shall apply to each such account. Not later than 60 
days after the date of the enactment of this Act, the Director of the 
Office of Management and Budget shall submit a report to the Secretary 
of the Treasury and Congress of the accounts and amounts determined and 
identified for rescission under the preceding sentence.
    (c) Exception.--This section shall not apply to the unobligated 
funds of the Department of Defense or the Department of Veterans 
Affairs.   
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