Protect Medical Innovation Act of 2015

Floor Speech

Mr. Speaker, I rise today to express my thoughts on the medical device tax.

H.R. 160, the Protect Medical Innovation Act of 2015, would repeal the 2.3 percent excise tax on medical devices enacted as part of the Affordable Care Act. While I voted in opposition of H.R. 160, I recognize the concerns of many in the medical technology industry regarding the implications of an excise tax on medical devices.

Under the Affordable Care Act, 16.4 million Americans have gained health coverage and access to critical health services. The tax on medical devices was designed as a means to offset the gains made by the industries that benefit from the law's successful expansion of healthcare coverage and is a critical component of paying for the law's implementation. It is problematic that H.R. 160 does not provide for the cost of eliminating the tax. I do not believe that it is prudent to repeal this tax at this time, but we should continue to monitor its long-term impact and perhaps revisit the issue in the future.

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