AdvaMed Steps Up Effort To Link Device Tax Repeal To Job Growth
This article was originally published in The Gray Sheet
Executive SummaryDevice lobbyists are hoping to take advantage of renewed emphasis among federal policymakers on creating jobs to push through a repeal of the medical device excise tax, scheduled to take effect in 2013.
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The prospective medical device tax, the continuing decline of venture investing, pricing challenges, austerity measures in Europe, and other headwinds continued to push against the medtech industry in 2012. But emerging clinical and geographic markets, along with an active M&A market, provided the industry with some momentum.
Industry groups flew in more than 50 CEOs to visit Capitol Hill, launched an ad campaign and released an impact report last week as part of a stepped-up effort to get Congress to repeal the impending medical device tax before it goes into effect Jan. 1.
Legislation to repeal the impending medical device excise tax will be sent to a vote on the House floor, raising the profile of the tax as a congressional election issue even as major impediments to repeal remain in the Senate. Meanwhile, the Supreme Court health care reform ruling looms.