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:2/12/2016)... ALEXANDRIA, Va. , Feb. 12, 2016   ... Douglas Hoey , RPh, MBA issued the following statement ... analysis released by the Centers for Medicare ... concerns raised by NCPA, beneficiary advocates and others: ... have raised. We are still reviewing the full CMS ...
(Date:2/12/2016)... 2016 /PRNewswire/ - Demers Ambulances announces its first delivery in the ... Okaloosa County Emergency Medical Services (EMS) consisting of ... LT2 van. Quality Emergency Vehicles in Lecanto, FL ... sale.  This is the latest in Demers, ongoing expansion of ... at Demers. --> Benoit LaFortune , Executive Vice ...
(Date:2/12/2016)... Feb. 12, 2016  Memorial Hermann Health System has ... Howard to bring a one-of-a-kind experience to pediatric ... cutting-edge technologies such as 360-degree video and Google Cardboard, ... then literally – giving the patients and their families ... was all caught on video . ...
Breaking Medicine Technology:
(Date:2/12/2016)... , ... February 12, 2016 ... ... today announced a new initiative—the Siemens Foundation-PATH Ingenuity Fellowships—to develop the advanced ... will recruit top students from U.S. universities who will draw from Siemens’ ...
(Date:2/12/2016)... ... ... Each year, the American Physical Therapy Association (APTA) offers a Combined Sections ... Center. Almost 10,000 physical therapists across the country are expected to attend this annual ... chosen field and network with their colleagues. As in years past, HydroWorx is ...
(Date:2/12/2016)... ... February 12, 2016 , ... The ThedaCare Center ... Francisco General Hospital on April 5-7. The series is a multi-day, multi-workshop event ... The workshops cover a broad range of topics, including coaching skills, the scientific ...
(Date:2/12/2016)... ... February 12, 2016 , ... AssureVest Insurance Group, a locally owned ... charity drive that will raise funds earmarked to purchase computers and software for Mrs. ... , “My school is in a low-income area and has more than 60 2nd ...
(Date:2/12/2016)... ... February 12, 2016 , ... Young Asset Protection, a full ... of the latest charity campaign in their community enrichment program. Art Expression utilizes ... worthy cause are currently being accepted at: http://artexpressioninc.org/ . , Art Expression ...
Breaking Medicine News(10 mins):