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AdvaMed Commends House Passage of the Small Business Tax Relief Act of 2015 (HR 636)
WASHINGTON, D.C. – Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association (AdvaMed), issued the following statement on final passage of “America's Small Business Tax Relief Act of 2015,” (HR 636), which will make permanent certain tax policies to spur American job creation:
“AdvaMed commends the House for taking action to address certain expiring provisions of the tax code that are important to medical technology innovators.
“AdvaMed supports H.R. 636, legislation introduced by Reps. Pat Tiberi (R-Ohio), Ron Kind (D-Wisc.), Todd Young (R-Ind.), Richard Neal (D-Mass.), Aaron Schock (R-Ill.), Danny Davis (D-Ill.), Tom Reed (R-N.Y.), and Jason Smith (R-Mo.), that would increase the amount small businesses may immediately deduct for investments in property, equipment, and computer software.
“This legislation not only provides certainty to medical technology companies for tax planning, but it allows firms to invest more heavily in their businesses and encourages job creation and growth. This type of tax structure is particularly important for capital-intensive small businesses like those in the medical technology industry.
“AdvaMed continues to support additional efforts to make the research and development tax credit permanent and establish R&D partnerships under the tax code. These proposals will encourage R&D here in America. R&D is a critical element of industry leadership and growth in the medtech sector.
“As Congress continues to take up legislation to address America’s tax code, it remains essential that this effort include repeal of the medical device tax. We encourage Congress to act now to put a stop to this job-killing tax.”
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AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.