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A proposed tax levy on the medical device industry has been reduced by $20 billion, Sen. Evan Bayh's office announced Monday.
In a statement, Bayh's office said the modification was necessary to preserve more than 63,000 well-paying jobs in Indiana's life sciences industry, including thousands in Kosciusko County.
The change to the Senate health-reform legislation was the largest single reduction secured for any industry, the statement said.
Bayh, D-Ind., Sen. Richard Lugar, R-Ind., and Rep. Mark Souder, R-3rd, all had objected to the proposed medical-devices fee, which was one way Sen. Max Baucus, D-Mont., proposed to pay for the legislation.
The Senate version of the bill called for makers of artificial hips, heart stents and other devices to pay $4 billion a year, with payments based on each company's share of the U.S. market.
