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AdvaMed Urges Swift Action on Device Tax Repeal Following Introduction of Senate 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. Senate to permanently repeal the medical device excise tax:
“Senate introduction of this legislation brings us one step closer to eliminating this burdensome tax, which has proven to be a drag on the medical technology industry’s ability to innovate on behalf of patients and to create good-paying American jobs.
“AdvaMed thanks the bill’s lead sponsors, Sens. Orrin Hatch (R-Utah.) and Amy Klobuchar (D-Minn.), for their leadership and their consistent support for improving patient care through innovation. We also thank the bill’s other original co-sponsors: Sens. Robert Casey (D-Pa.), Joe Donnelly (D-Ind.), Al Franken (D-Minn.), Johnny Isakson (R-Ga.), Rob Portman (R-Ohio), Jeanne Shaheen (D-N.H.), Pat Toomey (R-Pa.), and Todd Young (R-Ind.). The bipartisan support of this measure and its prominence as one of the earliest bills introduced in the new Senate clearly demonstrates that members understand this tax needs to go now.
“Patients and the U.S. economy are already benefitting from the temporary suspension of the tax, as medical technology companies have been able to reinvest those funds into new R&D, infrastructure improvements and new hiring.
“But these benefits are not assured. In order for these benefits to continue, companies need the certainty of permanent repeal to support long-term planning that will allow for future patient innovations and job growth.
“With bipartisan device tax repeal legislation now introduced in both the House and Senate, we urge Congress and the new administration to move swiftly on permanent repeal of this tax.”