A bill to repeal the medical device excise tax, and for other purposes.

Hozzl · 2023-01-11T13:27:48Z

Explore the details of Senate Bill 844 A bill to repeal the medical device excise tax, and for other purposes. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/11/2023, 1:27 PM

Congressional Summary of S 844

This bill repeals the excise tax on medical devices and offsets the cost of such repeal by prohibiting: (1) major integrated oil companies from using the last-in, first-out (LIFO) accounting method; and (2) the issuance of new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act to any person who does not renegotiate their existing leases to generate payment of royalties from such leases.

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Current Status of Bill S 844

Bill S 844 is currently in the status of Bill Introduced since March 24, 2015. Bill S 844 was introduced during Congress 114 and was introduced to the Senate on March 24, 2015. Bill S 844's most recent activity was Read twice and referred to the Committee on Finance. as of March 24, 2015

Bipartisan Support of Bill S 844

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 844

Primary Policy Focus

Taxation

Potential Impact Areas

Accounting and auditingEnergy pricesEnergy revenues and royaltiesGulf of MexicoHealth technology, devices, suppliesMarine and coastal resources, fisheriesOil and gasSales and excise taxesTax administration and collection, taxpayers