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AdvaMed Statement on Tax Extender MarkUp
WASHINGTON, D.C. – The Advanced Medical Technology Association (AdvaMed) today issued the following statement by Stephen J. Ubl, president and CEO, on today’s House Ways & Means Committee action to markup and make permanent certain tax policies to spur American job creation:
“AdvaMed commends the committee for taking action to address certain expiring provisions of the tax code that are important to medical technology innovators.
“AdvaMed supports H.R. 4457, legislation introduced by Reps. Pat Tiberi (R-Ohio) and Ron Kind (D-Wisc.), 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 device companies for tax planning, but it allows companies to invest more heavily in their businesses and encourage 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 also applauds efforts to make the research and development tax credit permanent which will encourage R&D here in America. R&D is a critical element to industry leadership and growth in the medtech sector.
“As Congress continues to take up legislation to address America’s tax code, it remains essential this effort include repeal of the medical device tax. Chairman Camp (R-Mich.) included repeal of this onerous tax as an element of his fundamental tax reform plan. We encourage Congress to act now to put a stop to this job-killing policy.”
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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.