Medical Tax Costs Industry $1 Billion To Date (MassDevice)
A report just released by a coalition of medical device lobbying groups said the medical device sales tax enacted under the Affordable Care Act has already cost the orthopedics manufacturing industry $1 billion.
According to the Medical Imaging & Technology Alliance and the Medical Device Manufacturers Association, the 2.3 percent medical device tax is costing medical device makers a collective average of $194 million per month. The MITA said that is money that should be going to research and development efforts.
In a press release, MITA Executive Director Gail Rodriguez said, “The $1 billion threshold is frightening as every dollar spent paying for this medical device tax threatens medical innovation and American jobs. MITA is pleased to see bipartisan support for repeal of the tax building in both the House and the Senate, but Congress cannot wait any longer to repeal this burdensome tax and protect jobs and essential R&D funding.”
In a prepared statement for MassDevice, MDMA President and CEO Mark Leahey added,
“Each day that goes by with the medical device tax in effect is a major roadblock for patient care, job...
