AdvaMed Praises Bipartisan Efforts to Repeal Device Tax
WASHINGTON, D.C. – Legislation introduced in the U.S. House of Representatives shows the growing bipartisan support for repealing the medical device tax, Advanced Medical Technology Association (AdvaMed) President and CEO Stephen J. Ubl said.
“The momentum from the last Congress is carrying over with a broader array of champions working to defeat this terrible tax,” said Ubl. “On both sides of the aisle, members of Congress know the device tax hurts our economy, kills jobs and slows the march of medical progress needed to fight disease and reduce long-term health costs. The medical technology industry is united in its commitment to repeal this tax and appreciates the leadership shown in Congress to continue the effort.”
Reps. Erik Paulsen (R-MN) and Ron Kind (D-WI) re-introduced the House repeal bill with more than 175 co-sponsors, including 20 Democrats. Ubl praised Paulsen and Kind for working together on the repeal effort. “Patients, the health care system and the American economy are winners when legislators work together like this. America’s medical technology industry looks forward to assisting in this important repeal effort,” Ubl said.
The tax has already led to layoffs, reductions in planned facility expansions and other cost-cutting measures, stunting economic growth, innovation and patient care. Studies show the tax threatens up to 43,000 jobs nationwide.
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.