Medical Device Tax Elimination Act
Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.
Medical Device Tax Elimination Act - Amends the Internal Revenue Code to: (1) repeal the excise tax on medical devices; (2) deny major integrated oil companies (companies which 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) the tax deduction for income attributable to oil, natural gas, or primary products thereof; (3) prohibit the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies; and (4) deny 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).
Referred to the House Committee on Ways and Means.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 1295: Medical Device Tax Elimination Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-1295/
"H.R. 1295: Medical Device Tax Elimination Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-1295/.
H.R. 1295, 113th Cong. (2026), https://openamerica.io/bill/113-HR-1295/.
[H.R. 1295: Medical Device Tax Elimination Act](https://openamerica.io/bill/113-HR-1295/)