OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Permanently Repeal Medical Device Excise Tax

Floor Speech

Date: July 23, 2018
Location: Washington, DC
Issues: Taxes Health and Health Care

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Ms. FOXX. Mr. Speaker, I rise in support of H.R. 184, the Protect Medical Innovation Act.

Many medical device manufacturers in North Carolina's Fifth District have reported how the medical device excise tax hinders medical innovation, costs jobs, decreases research and development, and slows capital expansion.

A fundamentally flawed policy enacted under ObamaCare, the medical device excise tax was intended to spare taxpayers healthcare costs. Instead, it burdens those taxpayers, and innovators are the backbone of our economy.

According to the Tax Foundation, the medical device tax cost approximately 21,800 jobs from 2013 to 2015. Furthermore, the tax is hidden from consumers at purchase and passed off to them in higher prices.

Congress has suspended this tax twice before, and as an original cosponsor of this legislation, I urge my colleagues to vote for its permanent repeal with the Protect Medical Innovation Act this week.

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