Industry Groups Tag-Team To Attack Device Tax
This article was originally published in The Gray Sheet
AdvaMed and MDMA simultaneously released survey results from their member companies arguing the tax has hurt jobs and investment in the industry and will continue to do so if it is not repealed.
You may also be interested in...
AdvaMed and MDMA, two rivaling lobby groups, have again come together against a common enemy: the Obamacare medical device excise tax. The groups simultaneously released survey results that argue that permanently repealing the tax would be a boon for their member companies and innovation.
Large device firms have thrived since the Affordable Care Act implementation applied a 2.3 percent excise tax to their sales, but medium- and small-size firms did less well, says a July 30 General Accountability Office report. But GAO did not draw a causal link between ACA, the tax, and profits.
Congressional leaders have again voted to repeal the 2.3 percent medical device tax criticized by industry for stifling innovation and jobs, and sent it to the Senate for approval. Concerns still surround whether the bill is approvable without an offset.