Medical Device Tax Elimination Act

Summary

Medical Device Tax Elimination Act This bill amends the Internal Revenue Code to repeal the excise tax on medical devices and offsets the cost of such repeal by: (1) eliminating the tax deduction for income attributable to oil, natural gas, or primary products thereof for major integrated oil companies (companies that have an average daily worldwide annual production of crude oil of at least 500,000 barrels and annual gross receipts in excess of $1 billion); (2) prohibiting the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies; and (3) denying the foreign tax credit to major integrated oil companies that are dual taxpayers (companies that receive an economic benefit from a foreign country or a possession of the United States that does not impose a generally applicable income tax).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 March 2015

   Introduced

   Introduced in House

   Source: IntroReferral

2. 23 March 2015

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 23 March 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 7 April 2015

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 March 2015 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 March 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 March 2015

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 23 March 2015

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Adams, Alma S. [D-NC-12] · D · Sponsor
• Rep. Tsongas, Niki [D-MA-3] · D · Sponsor
• Rep. Cartwright, Matt [D-PA-17] · D · Sponsor
• Rep. Higgins, Brian [D-NY-26] · D · Sponsor
• Rep. Polis, Jared [D-CO-2] · D · Sponsor
• Rep. McCollum, Betty [D-MN-4] · D · Cosponsor
• Rep. Cohen, Steve [D-TN-9] · D · Cosponsor
• Rep. Lieu, Ted [D-CA-36] · D · Cosponsor
• Rep. Foster, Bill [D-IL-11] · D · Cosponsor
• Rep. Lofgren, Zoe [D-CA-18] · D · Cosponsor
• Rep. Esty, Elizabeth H. [D-CT-5] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A bill to repeal the medical device excise tax, and for other purposes.
• related to ← Close Big Oil Tax Loopholes Act
• related to ← American Energy Innovation Act