MITA Commends House Ways and Means Committee for Approving Legislation to Repeal the Medical Device Tax

06.03.15

Washington, D.C. – The Medical Imaging & Technology Alliance (MITA) today commended the House Ways and Means Committee, under the leadership of Chairman Paul Ryan (R-WI), for approving H.R. 160, “The Protect Medical Innovation Act of 2015,” to repeal the medical device tax. The bill was sponsored by Reps. Erik Paulsen (R-MN) and Ron Kind (D-WI) and was introduced with a bipartisan group of original cosponsors.

“We appreciate the leadership of Chairman Ryan, and the support of Congressmen Paulsen and Kind, in championing American economic growth and the medical technology industry, which is responsible for developing innovative medical imaging techniques and devices that improve patient care and bolster the U.S. economy,” said Andy Dhokai, MITA’s Director of Federal Relations. “The latest efforts on Capitol Hill will help safeguard access to the lifesaving medical technologies and protect American jobs.”

The United States is the global leader in health care innovation and is a net exporter of medical devices. But the medical device tax threatens to undermine this position by being a drag on medical innovation and by the loss or deferral of more than 33,000 industry jobs. Nationwide, the industry is an important engine for economic growth, employing more than 400,000 workers, generating approximately $25 billion in payroll and paying salaries that are 40 percent more than the national average ($58,000 vs. $42,000). The industry is fueled by innovative companies, the majority of which are small businesses, some 80 percent having fewer than 50 employees.