Burr, Bipartisan Group of Senators Announce Legislation to End Tax on Medical Devices
Bill Eliminates Burdensome Tax That Hurts Innovation
WASHINGTON, D.C. – On Tuesday, U.S. Senator Richard Burr (R-NC), along with a bipartisan group of Senators, led by Senate Finance Committee Chairman Orrin Hatch (R-Utah), introduced the Medical Device Access and Innovation Protection Act, S. 149, a bill to repeal the medical device tax that was implemented as a part of the Patient Protection and Affordable Care Act (PPACA).
Under PPACA, manufacturers of medical devices are required to pay a 2.3 percent excise tax on products ranging from surgical tools to bed pans. The tax, which took effect in January 2013, is hurting innovation, job creation, and the overall delivery of quality patient care. A study by the Advanced Medical Technology Association (AdvaMed) found that the tax impacted approximately 33,000 American jobs in its first year, either through layoffs or forgone jobs that would have been created.
“I am proud to join Chairman Hatch once again to try to repeal the stifling and innovation-killing medical device tax. If we are serious about lowering the cost and improving the quality of health care, it makes no sense to impose a tax on medical devices. Additionally, this tax jeopardizes the jobs of thousands of Americans including almost 8,000 North Carolinians employed directly by the medical technology industry and many more who work in related positions,” said Senator Burr.
“Repealing this job-killing medical device tax will help ensure America remains the world leader in the research and development of life-saving medical products and upholds our promise to patients in North Carolina and across our nation to continue to innovate on their behalf.”
Joining Burr in introducing the Medical Device Access and Innovation Protection Act today were Sens. Amy Klobuchar (D-Minn.), Pat Toomey (R-Pa.), Joe Donnelly (D-Ind.), Orrin Hatch (R-Utah), Al Franken (D-Minn.), Rob Portman (R-Ohio), Bob Casey (R-Pa.), Dan Coats (R-Ind.), and Jeanne Shaheen (D-N.H.).
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