Repeal of Medical Device Tax

Floor Speech

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Mr. Speaker, I rise today to urge my colleagues on both sides of the aisle to support a permanent repeal of the medical device tax.

The more than 7,000 medical device companies in the United States contribute hundreds of billions of dollars to our economy every year, employing over 400,000 Americans, and creating lifesaving technologies that benefit patients around the world.

Many of these device manufacturers are based in my district in and around Warsaw, Indiana, and we are proud that Warsaw is often called the orthopedic capital of the world.

The vast majority of medical device manufacturers employ fewer than 50 people, with many generating little to no sales revenue. This is what makes the potential reinstatement of the 2.3 percent excise tax on medical device sales so harmful. This misguided tax would subject the medical device industry to one of the highest corporate tax rates in the world and eliminate thousands of jobs.

Repealing this tax has broad, bipartisan support in both Chambers of Congress, and I urge my colleagues to make eliminating this tax a top legislative priority in 2017.

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