By Reps. Erik Paulsen, Brian Bilbray and Jim Gerlach
Special to Roll Call
June 7, 2012, Midnight
Medical innovation and ingenuity will also suffer as a result of the tax. To come up with the estimated $30 billion needed to pay their new tax bill, companies will have fewer resources for critical research, development and staffing, which combined gives America a cutting edge in the medical technology industry. The next implantable defibrillator or prosthetic advancements could be delayed because of the investment opportunities this tax takes away. The ultimate goal of the medical device industry is to save and enrich lives. More must be done to ensure that these job-creating businesses have every opportunity at success because their success ensures a healthier future for us all.
For these reasons, we have collaborated to repeal the nearly $30 billion tax on the medical device industry. This is an industry critical to the quality of our health care and should not be subjected to a federal tax that would bring many unfortunate consequences. Repealing the tax will ensure continued medical advancement while also maintaining American jobs in one of our most globally competitive industries.
Rep. Erik Paulsen (R-Minn.) is co-chairman of the Medical Technology Caucus. GOP Reps. Brian Bilbray (Calif.) and Jim Gerlach (Pa.) are members of the caucus.