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Bipartisan Support to Repeal Device Tax Continues to Grow
Sponsorship in House Hits Critical Milestone
WASHINGTON, D.C. – The following statement was released today by Stephen J. Ubl, president and CEO of AdvaMed (Advanced Medical Technology Association) to mark the achievement of a majority of Members of the U.S. House of Representatives signing on as co-sponsors of HR 523, the Protect Medical Innovation Act of 2013:
“Today’s news that HR 523 has garnered the support from a majority of the House of Representatives underscores the growing bipartisan support to repeal the medical device tax. It’s a testament to the leadership of Reps. Erik Paulsen (R-MN), Ron Kind (D-WI) and many others who have worked tirelessly to ensure this important jobs issue remains front and center.
“Legislative measures to repeal the device tax passed the House last summer, overwhelmingly passed the Senate just weeks ago and now this bill has more than enough support to pass in the House yet again. The damaging effects of the tax are real and are hitting companies who have announced layoffs, reductions in R&D or delays in capital improvements. We urge Congress to move swiftly to repeal the tax.
“Device manufacturers are now paying an estimated average of $194 million per month in medical device tax payments – money that could be going toward investment in R&D for the next generation of medical innovations and spurring American job growth.
“Reps. Paulsen and Ron Kind re-introduced the House repeal bill in February. The medical technology industry helps employ more than 2 million people in the U.S., and salaries in this sector are 40 percent higher than the national average.”
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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.