Navigation Links
AdvaMed Supports Comprehensive Tax Reform Repeal of the Medical Device Tax Important First Step
Date:7/9/2013

WASHINGTON, July 8, 2013 /PRNewswire-USNewswire/ -- Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association (AdvaMed), released the following statement in response to tax-writing committee Chairmen Camp and Baucus as they begin their nationwide listening tour in favor of a simpler, fairer U.S. tax code: 

"AdvaMed commends the efforts of Ways and Means Committee Chairman Dave Camp (R-MI) and Senate Finance Committee Chairman Max Baucus (D-MT) to advance comprehensive U.S. tax reform to improve America's competitiveness and rebuild our nation's economic future. We look forward to working with them as they develop their legislation.

"As they begin their Tax Reform Tour in the Minneapolis-St. Paul, Minnesota area, it is important to note the medical technology industry supports over 35,000 jobs in the state and more than two million jobs nationally. In the context of reforming the tax code to make U.S. business more competitive, repealing the medical device excise tax that went into effect in January is a critical first step to protecting these jobs and ensuring a level playing field for Minnesota and the rest of the U.S. in the global economy.

"America's current corporate tax structure is a key factor contributing to the decline of the competitiveness of the American medical technology industry. U.S. corporate tax rates are the highest in the world. The U.S. has failed to match competitor nations in positive tax incentives to attract knowledge-based, high-value manufacturing industries like medical technology. The U.S. tax code provides few incentives to invest in the pre-profit start-up companies that are the backbone of the innovation system.

"The device tax makes an already uncompetitive tax system for the medical technology industry far less competitive and threatens our industry's continued world leadership. It raises the total tax burden for our industry by a whopping 29% – resulting in fewer job opportunities, lower R&D investment to fuel tomorrow's treatments and cures, and/or higher health care costs.

"Legislative measures to repeal the device tax passed the House last summer and the Senate in March with overwhelming bipartisan majorities. Congress and the President must act now to finish the job and repeal it."

AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.


'/>"/>
SOURCE AdvaMed
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. AdvaMed & BioOhio Discuss MedTech Impact on Ohios Economy, Job Creation
2. AdvaMed Commends House Progress on Repealing Medical Device Tax
3. Countdown Begins For AdvaMed 2012: The Medtech Conference
4. AdvaMed Launches MVP Mentoring Portal for Veterans
5. AdvaMed Opposes Puerto Rico Medical Device Tax Increase
6. Pharmaceutics International, Inc. (Pii) Supports University Pharmaceutical Technology Education and Research
7. Data Presented at the American Psychiatric Association Annual Meeting Supports Gender-Specific Dosing of Intermezzo® (zolpidem tartrate) Sublingual Tablets CIV
8. U.S. Government Supports Phase 3 Study of Bavarian Nordics Smallpox Vaccine
9. Frost & Sullivan: Expanding Sample Prep Market Supports Growth Trends in Molecular Diagnostics Markets
10. New Legislation To Make USPSTF More Transparent: Prostate Cancer Roundtable Supports Reform
11. Ventana Supports World Patient Safety Day, July 25
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/15/2017)... 15, 2017  Amy Baxter MD, chief executive officer ... noninvasive pain relief, was awarded a 2017 Top 40 ... was recognized at the MM&M Top 40 Healthcare Transformers ... on May 10, 2017. The dinner followed ... go "beyond the pill."  "Innovation goes beyond ...
(Date:5/12/2017)... May 12, 2017  The China and Canada ... that consumes less water, energy and detergent, and features a powerful ... LaughingU, a shoebox-sized washing machine that washes and sanitizes women,s panties ... ... is compact, and does not require an external water inlet. ...
(Date:5/10/2017)... May 10, 2017 Hologic, Inc. (Nasdaq: ... for the fiscal second quarter ended April 1, 2017 ... $1.84 increased 666.7% compared to the prior year period ... in a significant gain, while non-GAAP diluted EPS of ... or 3.8% in constant currency terms.  Excluding the effects ...
Breaking Medicine Technology:
(Date:5/21/2017)... Texas (PRWEB) , ... May 21, 2017 , ... ... International Conference has brought together a cross-disciplinary group of scholars, policymakers, and activists ... Breastfeeding, Social Justice, and Equity is the third book from a recent ...
(Date:5/21/2017)... ... May 21, 2017 , ... Following the tragic and ... became the first state to require that hospitals follow a protocol to quickly identify ... medical community as to whether such steps would have saved Rory or anyone else’s ...
(Date:5/19/2017)... NC (PRWEB) , ... May 19, 2017 , ... ... the Charlotte health community, Queens University of Charlotte recently began recruitment efforts for ... program’s curriculum arms students with the skills, knowledge and expertise to approach and ...
(Date:5/19/2017)... ... May 19, 2017 , ... Springfield, Vermont-based law firm of ... " Ten Good Reasons To Hire An Experienced Personal Injury Attorney, " the article ... accident or injury. As the article says. if someone is injured due to ...
(Date:5/19/2017)... ... May 19, 2017 , ... The Arnold and ... Investigators: , Victor Acosta, Ph.D. - University of New Mexico, Jeremy Baskin, Ph.D. ... University of Washington, Erik Grumstrup, Ph.D. - Montana Stata University, A. Fatih Sarioglu, ...
Breaking Medicine News(10 mins):