The medical device tax repeal lifts a huge burden from Massachusetts' medtech industry and will help patients globally. This tax stifled innovation and its repeal allows med device companies to accelerate innovation, foster growth of the medtech economy and bring new therapies to patients.
BOSTON (PRWEB) December 17, 2019
The Massachusetts Medical Device Industry Council (MassMEDIC) President Brian Johnson released the following statement after the full repeal of the Medical Device Excise Tax by the U. S. House of Representatives today. The spending bill will now go to the U.S. Senate for a vote and onto the President to be signed into law
“MassMEDIC, along with our partners in Washington, D.C., have been working in collaboration for nearly a decade to ensure the full and permanent repeal of the medical device tax. After countless meetings on Capitol Hill with Congressional leadership, the repeal today is a result of bipartisan support in Congress.
“The full repeal of the medical device excise tax lifts a huge burden from the medtech industry in Massachusetts and will help patients across the globe. This regressive tax stifled innovation for far too long and its repeal will allow medical device companies across our state to accelerate innovation, to foster continued growth of the medtech economy for the Commonwealth and to bring new therapies to patients in need.
“MassMEDIC would like to thank the entire Massachusetts Congressional delegation, and in particular Chairman Richard Neal and Representative Katherine Clark for their leadership and tireless support. Along with the nearly 300 cosponsors of the device-tax-repeal legislation, this was truly a bipartisan effort to do what’s best for patients and medtech innovators.”
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The Massachusetts Medical Device Industry Council (MassMEDIC), an organization of more than 300 manufacturers, suppliers, research institutions, and academic health centers, promotes the unique interests of the Bay State’s growing and vibrant medical device sector. Through a variety of programs, informational seminars, advocacy campaigns and other projects, MassMEDIC provides medical device manufacturers and suppliers with information on industry trends and regulatory policies and creates forums that allow members to exchange ideas and information on issues affecting the industry. For more information on MassMEDIC, visit our web site at http://www.massmedic.com.