Faso Urges Repeal of Medical Device Tax

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Washington, D.C., January 31, 2017 | comments

Washington, D.C. – Congressman John Faso (R-Kinderhook) signed a letter to Speaker Paul Ryan, urging him to support H.R. 184, the Protect Medical Innovation Act, and issued the following statement:

“My freshmen colleagues and I have urged Speaker Paul Ryan to fast-track H.R. 184, the Protect Medical Innovation Act, legislation that will go further than the current suspension and permanently repeal the medical device tax. Suspending the tax for 2016 and 2017 sales is expected to save manufacturers $3.4 billion in tax payments, according to the Congressional Budget Office. Unfortunately, this tax is scheduled to go back into effect in 2018. It will cost medical innovators $29 billion nationwide over 10 years, damage job creation and reduce economic growth. This tax is unnecessary and the costs will ultimately be passed on to those who need these devices most.”

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