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AdvaMed Statement on Device Tax Suspension
WASHINGTON, D.C. – The Advanced Medical Technology Association (AdvaMed) issued the following statement from AdvaMed President and CEO Scott Whitaker regarding the proposal in the U.S. House to extend the suspension of the medical device excise tax:
“AdvaMed commends the leadership of House Ways & Means Committee Chairman Kevin Brady and Reps. Erik Paulsen and Jackie Walorski for their proposal to prevent this onerous tax from returning. A five-year suspension is an important first step to provide medical technology innovators with confidence that this tax will not go back into effect. With time running short, we urge Congress to adopt this suspension immediately.
“During the current suspension, medtech companies have been able to reinvest millions that otherwise would have been lost to the tax into new jobs, capital improvements and R&D to fuel the next generation of life-changing technologies for patients. We are committed to continuing this reinvestment in innovation if the tax is suspended on a long-term basis going forward.
“However, while we applaud this proposed five-year suspension, it is a only a first step toward the ultimate goal to fully repeal the medical device tax and unleash the full promise of job growth and medical innovation for American patients.”