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AdvaMed Statement on H.R. 4457
WASHINGTON, D.C. – The Advanced Medical Technology Association (AdvaMed) today issued the following statement by Ashley Wallin, executive director of AdvaMed’s Emerging Growth Company Council, on upcoming action by the House of Representatives to address section 179 of the tax code:
“AdvaMed commends the House for taking action on legislation to address a component of the tax code that is important to innovative and emerging growth medical technology companies.
“AdvaMed supports H.R. 4457, introduced by Reps. Pat Tiberi (R-Ohio) and Ron Kind (D-Wis.), to increase the amount small businesses may immediately deduct for investments in property, equipment and computer software. This important legislation would not only provide needed certainty for tax planning purposes, but would allow companies – including entrepreneurial developers of advanced medical technologies – to invest more heavily in their businesses while encouraging job creation and economic growth across the country.
“This type of tax structure is particularly important for capital-intensive, advanced-technology and small businesses like those that predominate in the medtech sector.
“As Congress continues to take up legislation to address America’s tax code, it remains essential that this effort also include repeal of the innovation-crushing medical device tax. Earlier this year, House Ways and Means Committee Chairman Dave Camp (R-Mich.) included device tax repeal as part of his fundamental tax reform plan. We encourage Congress to act now to repeal 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.