You are here
MITA, AdvaMed and MDMA Support Continued Bipartisan Efforts to Repeal the Device Tax
HOUSE VOTES FOR REPEAL OF DEVICE TAX
Washington, D.C. – The Medical Imaging & Technology Alliance (MITA), Advanced Medical Technology Association (AdvaMed) and the Medical Device Manufacturers Association (MDMA) today announced their collective support for the continued bipartisan efforts to repeal the 2.3 percent medical device excise tax. Yesterday, the House passed the Jobs for America Act (H.R. 4) with a vote of 253 to 163, which includes repeal of the device tax.
“Federal policies that affect medical imaging innovation also have reverberating effects on patients, jobs and the U.S. economy,” said Gail Rodriguez, executive director of MITA. “We support the bipartisan efforts to repeal this harmful tax and pursue policies that promote the development of life-saving technologies.”
“Repealing this tax will help ensure the U.S. maintains its global leadership in this high-tech manufacturing sector and advance the development of new cures and treatments,” said Stephen J. Ubl, President and CEO of AdvaMed. “We greatly appreciate the ongoing support from both sides of the aisle on this important issue.”
“MDMA thanks the House of Representatives for working to strengthen medical technology innovation by removing a major roadblock towards developing the cures of tomorrow,” said Mark Leahey, President and CEO of MDMA. “Repealing the medical device tax not only empowers patients and providers, but will allow America’s innovators to create more high-tech manufacturing jobs that our communities desperately need.”
The medical technology industry is an important engine for economic growth in the United States, employing more than 400,000 workers nationwide, generating approximately $25 billion in payroll, paying out salaries that are 40 percent more than the national average ($58,000 vs. $42,000) and investing nearly $10 billion in research and development annually. The industry is fueled by innovative companies, the majority of which are small businesses, with 80 percent of companies having fewer than 50 employees. Repealing the medical device tax will remove the burden to invest in research and development, ultimately benefitting patients, increasing jobs and boosting the economy.