Vote Underscores Bipartisan Support for Device Tax Repeal Efforts
March 21, 2013
/PRNewswire-USNewswire/ -- The Medical Imaging & Technology Alliance (MITA), Advanced Medical Technology Association (AdvaMed) and the Medical Device Manufacturers Association (MDMA) today applauded the adoption of an amendment to the Fiscal Year 2014 Senate Budget Resolution that expresses support for repeal of the medical device tax. The amendment passed with 79 votes.
"Momentum is clearly growing in Congress to repeal the medical device tax as Senators continue to hear from their constituents that the impact is real -- the tax is slowing economic growth and costing thousands of jobs," said
, Executive Director of MITA. "MITA encourages Congress to prevent further job loss and protect essential research and development by promptly repealing this harmful tax."
"Bipartisan majorities in both the House and Senate have now voted to repeal the device tax. The reasons behind mounting support to repeal the tax are clear: Across the country, this tax is cutting high-quality jobs and investments in tomorrow's treatments and cures at companies large and small. We encourage leaders in Congress and the Administration to seize on this momentum and act to repeal this harmful tax," said
Stephen J. Ubl
, President and CEO of AdvaMed.
"Today's overwhelming support of the amendment shows that clear majorities in the Senate and the House of Representatives recognize that the medical device tax needs to be repealed so that America's medical technology community can spur growth and create the great jobs that come along with it," said
, President and CEO of MDMA. "Every day innovators in this dynamic industry are looking at how to improve the quality of life for patients, and the medical device tax is standing in the way of progress and threatening America's leadership position. While we have more work to do, MDMA applauds this important step towards ensuring that
the United States
remains the global leader in medical technology innovation."
The bipartisan amendment was introduced by Senators
(D-MN), with co-sponsorship from twenty-one Senators, including
The American medical technology industry is responsible for and supports nearly two million jobs, creating a growing trade surplus, and developing the technology essential to advancing patient care in
the United States
and around the world. However, with the implementation of the medical device tax, manufacturers have paid an estimated
to the Internal Revenue Service (IRS) so far this year, reallocating funds that could otherwise be directed towards investment in job creation and research and development.
This legislative effort is the most recent since
, when Senators Hatch and Klobuchar introduced the "Medical Device Access and Innovation Protection Act," which included bipartisan co-sponsorship for the first time.
SOURCE AdvaMed; MITA; MDMA