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AdvaMed Praises Introduction of House Device Tax Repeal Legislation
WASHINGTON, D.C. – Scott Whitaker, president and CEO of the Advanced Medical Technology Association (AdvaMed), issued the following statement on introduction of bipartisan legislation in the U.S. House to permanently repeal the medical device excise tax:
“Introduction of the Protect Medical Innovation Act is a key milestone in finally repealing this onerous tax once and for all. As one of the first bills to be introduced in the House in the new session, this sends a strong signal that repeal is a high priority for the incoming Congress.
“AdvaMed commends the bill’s co-sponsors Reps. Erik Paulsen (R-Minn.) and Ron Kind (D-Wis.) for their leadership on this issue. The strong bipartisan support they have gathered behind their bill makes it clear that a majority of members recognize the urgency to permanently repeal this anti-job, anti-innovation and anti-patient tax.
“As we predicted, the temporary suspension of the tax has led medical technology companies to reinvest funds that would have gone to the tax into new R&D, infrastructure improvements and new hiring. With the suspension set to expire in 2017, for these benefits to continue for the long term, companies need the certainty of permanent repeal to support future job growth and sustainable R&D investment. This will help ensure a strong pipeline of continued medical innovation for patients worldwide.
“We look forward to working with members in the House and Senate, the new administration and other stakeholders to move forward on permanent repeal of this tax.”