US Election 2016
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With an all-Republican House, Senate and administration lined up to lead the government following the 2016 elections, the path is clear for passage of a set of FDA reforms to ease device approvals embedded in a combined House 'Cures' and Senate medical innovation package. It could even happen over the upcoming lame-duck session, before the new administration and Congress take over. But controversy around price-gouging by drug firms still could stymie quick Cures bill passage, an industry attorney predicts. Meanwhile, medtech industry groups plan to seize on the Trump victory as a means to achieve permanent device tax repeal.
Latest From Elections & Medical Device
The "lame duck" session of Congress before newly elected members take their seats in January may be the best shot available for the device industry to win permanent device tax repeal, lobby group AdvaMed says. The group is making a major effort to repeal the tax before the new Congress takes over.
On this week's podcast, David Filmore and Ferdous Al-Faruque discuss the results of this week's midterm elections in the US and what it could mean for the medtech sector.
The balance of power will be shifting in Washington, DC, following the Nov. 6 US midterm elections, but that probably will not mean major changes for medtech policies. Here are some key takeaways from the election for device and diagnostics companies.
With most of the Nov. 6 election tally completed, it’s clear there will be many new faces for the device industry to engage with in the halls of Congress, but the sector still appears to have a significant group of supporters on Capitol Hill. Also, several medtech-relevant measures were on the ballot.
Medtech firms are accustomed to rooting for House and Senate candidates they have backed in traditionally medtech-facility heavy regions of the US including Minnesota, Indiana and Massachusetts. As the sector grows in new regions, there are a broader set of important races for the industry, including in California, Texas, and New Jersey, this election season.
For the 2018 midterm elections in the United States, the most generous medtech company donations went to politicians who introduced or cosponsored pro-device legislation or made it clear they oppose the medtech excise tax and want it permanently removed, according this Medtech Insight analysis of industry campaign contributions leading up to the election.
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