The American Healthcare system is beholden to the tax rates imposed upon it by the implementation of the ACA and its excise taxes on certain companies – such as pharmaceutical and medical device manufacturers.
Thankfully, the Trump Administration appears to be prepared to take a role in cutting taxes, specifically taxes for businesses large and small, by at least 15 percent. But this is really a skeleton layout of the tax reform required to save the Research and Development funding required to keep these companies in business.
Why is it important to keep them in business? Without pharmaceutical companies creating new ways to treat illnesses, and without medical device manufacturers inventing new technology to aid those who are ill, Americans are losing out on beneficial healthcare which may save lives and keep families together.
Unfortunately, there’s a long road ahead with regards to tax reform and the removal of certain ACA taxes which target medical companies at large. Congress has yet to show leadership in updating these outdated rules which threaten to undermine the health of an entire nation.
