MITA Commends Congressman Ron Kind for Supporting Legislation to Repeal the Medical Device Tax

06.04.15

Washington, D.C. – The Medical Imaging & Technology Alliance (MITA) today commended Congressman Ron Kind (D-WI) for his vote in support of H.R. 160, “The Protect Medical Innovation Act of 2015,” that repeals the medical device tax.  The House Ways and Means Committee approved the legislation earlier this week.

“We are grateful to Congressman Kind for his continued support of the medical technology industry, which is responsible for driving innovation that enhances patient care and creates well-paying manufacturing and advanced science and technical jobs,” said Andy Dhokai, MITA’s Director of Federal Relations. “Congressman Kind’s efforts to take a stand against a tax that threatens jobs, innovation and patient care in Wisconsin and around the country will help safeguard patient access to life-saving medical technologies and bolster the U.S. economy.”

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 thousands of 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.

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The Medical Imaging & Technology Alliance (MITA), a division of NEMA, is the collective voice of medical imaging equipment, radiation therapy and radiopharmaceutical manufacturers, innovators and product developers. It represents companies whose sales comprise more than 90 percent of the global market for medical imaging technology. For more information, visit www.medicalimaging.org. Follow MITA on Twitter @MITAToday.