Congresswoman Mia Love’s on-going effort to repeal the Medical Device Tax has taken a significant step forward, after strong bipartisan support to approve H.R. 184, The Protect Medical Innovation Act.
Rep. Love is an original cosponsor of the legislation and worked consistently with House leadership to address the tax since she arrived in Congress, including the securing of a two-year repeal earlier this year.
“The negative consequences of this unfair and burdensome tax have been significant to consumers, to health care providers, and to the medical device industry,” Congresswoman Love said.
“Several important Utah companies who employ thousands of people in our state have been negatively impacted by the tax,” Rep. Love added. “Repealing this tax allows those companies to invest in innovation in order to provide better products at a lower cost.”
H.R. 184 eliminates the 2.3% U.S. Medical Device Excise Tax. The tax places burdens on Utah medical device manufacturers like Merit Medical, BD, Edwards Lifesciences, Integra and the members of BioUtah.
These companies manufacture and sell medical devices like catheters, stents and heart valves, syringes and needles. The Medical Imaging and Technology Alliance predicted the tax would have taken a $20 billion bite out of the industry in the next decade.
The bill now moves to the Senate for consideration.
