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Senate passes legislation to repeal medical device tax
The U.S. Senate passed legislation that includes a full repeal of the medical device tax — a 2.3% tax on a range of medical devices and products which previous research has shown to have minimal benefits for doctors, patients and manufacturers.
Included in H.R. 1865, a bipartisan year-end spending package, the medical device tax repeal provision was passed by the U.S. House of Representatives earlier this week by a vote of 297 to 120. Next, the legislation will need to be signed into law by President Donald J. Trump.
“The House vote to repeal the device tax is a huge win for American patients,” Scott Whitaker, president and CEO of the Advanced Medical Technology Association, said in a company press release earlier this week regarding the House vote. “Without this burdensome tax, the U.S. medtech industry — the world leader in medical innovation — can focus now on developing the next generation of treatments and cures for patients in need, and creating good-paying, high-tech jobs in communities across the country.”
Mike Guerra, president and CEO of California Life Sciences Association, noted in a company press release that full and permanent repeal of the medical device excise tax will ensure that “the U.S. does not jeopardize [its] position as a global leader in medical technology innovation.”
“Full repeal of the medical device excise tax will not only benefit patients in California and around the world, but it will also be a shot in the arm to medical technology innovators, encouraging them to do what they do best: create good-paying jobs and invest in cutting-edge science to develop new technologies that improve human health,” Guerra said in the release.
References:
www.congress.gov/bill/116th-congress/house-bill/1865/text www.advamed.org/newsroom/press-releases/house-vote-repeal-medical-device-tax-%E2%80%9C-huge-win%E2%80%9D-american-patients