[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 692 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                 S. 692

To amend the Internal Revenue Code of 1986 to repeal the excise tax on 
                            medical devices.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 7, 2019

Mr. Toomey (for himself, Ms. Klobuchar, Mr. Alexander, Mr. Blumenthal, 
  Mr. Casey, Mr. Crapo, Ms. Duckworth, Mr. Grassley, Ms. Hassan, Mr. 
 Inhofe, Mr. Isakson, Mr. Jones, Ms. McSally, Mr. Portman, Ms. Rosen, 
Mrs. Shaheen, Ms. Sinema, Ms. Smith, Mr. Tillis, Mr. Young, Mr. Wicker, 
 Mr. Rubio, Mrs. Hyde-Smith, Mrs. Fischer, Mr. Gardner, and Mr. Blunt) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to repeal the excise tax on 
                            medical devices.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protect Medical Innovation Act of 
2019''.

SEC. 2. REPEAL OF MEDICAL DEVICE EXCISE TAX.

    (a) In General.--Chapter 32 of the Internal Revenue Code of 1986 is 
amended by striking subchapter E.
    (b) Conforming Amendments.--
            (1) Subsection (a) of section 4221 of such Code is amended 
        by striking the last sentence.
            (2) Paragraph (2) of section 6416(b) of such Code is 
        amended by striking the last sentence.
    (c) Clerical Amendment.--The table of subchapters for chapter 32 of 
such Code is amended by striking the item relating to subchapter E.
    (d) Effective Date.--The amendments made by this section shall 
apply to sales after December 31, 2019.
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