AdvaMed has consistently and strongly opposed the 2.3 percent medical device tax.
The U.S. leads the world in medical technology, but the medical device tax threatens that leadership because it puts an additional burden on medical device innovators already struggling under the weight of America’s uncompetitive tax system.
Congress recently suspended the tax for another two years, preventing harmful cuts to jobs and investments; now, Congress needs to fully repeal the tax to save and improve patients’ lives, unleash new job growth and innovation. Only with long-term relief will the medtech industry be able to make the multi-year investments in R&D and infrastructure necessary to sustain the innovation ecosystem and take the next leap forward in patient care.
The benefits of full-repeal:
71%
of companies surveyed would reinstate previously foregone hiring.
85%
of companies surveyed would reinstate previously foregone R&D projects.
2M
jobs directly and indirectly supported by medical technology all over the United States.
Recent advocacy efforts have focused on asking Congress one simple question, “What’s really being taxed?” Without repeal of the medical device tax, new treatments and cures could be out of reach for patients and families across the country.
TV Spot
This TV spot aired on Fox & Friends, as well as MSNBC’s Morning Joe.
Make America Work Again
The device tax threatens our country’s ability to invest in next-generation solutions and our ability to improve patient care. It threatens our economy. And it threatens good-paying, high-quality American jobs.
Concerned about the economy? RT to support an easy way to put America back to work. pic.twitter.com/ZVlGjKOZ67
In early March, American Action Forum (AAF) released a study that projects that if the Medical Device Tax resumes in 2018, up to 25,000 additional jobs could be lost by 2021. However, if the tax is permanently repealed, it is expected that the jobs already lost when the tax was in effect will be recovered within three to five years. This means that the net impact of permanently repealing the medical device tax could be in excess of 53,000 additional jobs, compared to what would occur if the tax remains in effect.
In early September we delivered empty MedTech red boxes to every Congressional office on Capitol Hill to signify the loss of innovation due to the medical device tax.
