Posted by: hlacentralma | January 20, 2017

Hearing Aid Tax Credit Bill Reintroduced in US Senate

Copyright (c) Hearing Health  & Technology Matters. All rights reserved.  Brian Taylor, Editor  Hearing News Watch brings readers the latest news from the world of hearing.

capital-hillWASHINGTON, DC — On January 5th, Senators Dean Heller (R-NV) and Amy Klobuchar (D-MN) reintroduced the Hearing Aid Tax Credit bill (S. 48) in the US Senate. If the proposed bi-partisan legislation is enacted, it will provide a $500 tax credit per hearing aid purchased, with the credit available every five years.

Similar versions of the bill have been introduced in the past several sessions of Congress, with broad support from hearing professionals and consumer advocates, but the measure has never been enacted.

Hearing Aid Legislation Part of Tax Reform Package?

With the incoming Trump administration highlighting tax reform as a major focus to boost the economy, there may be hope that such legislation has a chance to clear Congress in 2017. Additionally, Senators Heller and Klobuchar both serve on the Senate Finance Committee, which plays a large role in shaping tax reform legislation.

There is, however, the continued uncertainty about the potential de-regulation in the hearing aid market, including the prospect of a new class of OTC hearing aids. How this may impact the chances of tax credit legislation passing are still unknown.

To track progress of the bill, readers can visit govtrack.


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