Toomey Wants Medical Device Tax Repeal
FOR IMMEDIATE RELEASE: May 15, 2014
Contact E.R. Anderson at 202-224-8609
SEN. TOOMEY WANTS TO REPEAL
MEDICAL DEVICE TAX
WASHINGTON, D.C. – U.S. Senator Pat Toomey (R-Pa.) is working to repeal the burdensome medical device tax that was created in the president’s health care law.
Filing an amendment to the tax bill under consideration on the Senate floor today, Sen. Toomey’s measure eliminates a provision of Obamacare which forces manufacturers of medical devices — ranging from cochlear implants to pacemakers to artificial joints — to pay a 2.3 percent tax on their sales. The tax, which took effect in January 2013, is expected to cost device manufacturers roughly $194 million per month, putting 43,000 American jobs at risk, according to the Advanced Medical Technology Association. The tax hinders innovation, job creation, and quality, affordable health care.
"The medical device tax will cost Pennsylvania’s economy $100 million a year, causing job losses and impacting the ability of companies to expand and hire. The tax is discouraging businesses both in Pennsylvania and across the United States from growing and planning for their futures," said Sen. Toomey. "I have heard from many manufacturers including Fujirebio Diagnostics based in Malvern, B. Braun located in the Lehigh Valley, and Cook Medical with a location in Vandergrift that this tax is already eliminating Pennsylvania jobs, undermining our economy, and driving up the cost of care for patients."
A similar proposal passed the Senate in an overwhelmingly bipartisan vote of 79-20 during a test vote in March 2013.
Elizabeth "E.R." Anderson
U.S Senator Pat Toomey
248 Russell Senate Office Building
Washington, DC 20510