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AdvaMed, California Life Sciences Association applaud suspension of medical device tax
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The Advanced Medical Technology Association and the California Life Sciences Association commended a decision by Congress to suspend the medical device excise tax until December 2019.
According to a press release from the California Life Sciences Association (CSLA), the tax moratorium was part of the H.R. 195, a short-term federal government funding bill passed by both the U.S. House and Senate on Jan. 22. The tax was part of the Affordable Care Act.
“AdvaMed applauds passage of the 2-year suspension of the medical device tax,” Scott Whitaker, president and CEO of Advanced Medical Technology Association (AdvaMed), said in a press release. “This suspension is good news for American patients and American innovation. Congress’ action — just days before medical technology innovators were set to start cutting checks to the IRS — means funds will not be diverted from current investments in jobs, capital improvements and research into new treatments and cures.”
He added, “While the 2-year suspension is welcome, it is only an interim step toward the truly needed action by Congress to fully repeal this tax and unleash the promise of medtech innovation. We look forward to continuing to work with the Hill on a bipartisan basis to drive toward permanent relief.”
“While our membership, comprised of the nation’s leading medical technology innovators, certainly welcomes an additional 2-year reprieve from the tax, CLSA will continue to advocate for full and permanent repeal, so that the U.S. does not jeopardize our position as a global leader in medical technology innovation,” Sara Radcliffe, president and CEO of CSLA, said in a statement from the group.
References:
www.advamed.org