Gibbs and Joyce Press House, Senate Leadership: Repeal the Medical Device Tax
WASHINGTON, DC - Citing the impact on Ohio medical device manufacturers and patients who rely on them, Congressmen Bob Gibbs and Dave Joyce urged leadership in the House of Representatives and the Senate to repeal the 2.3 percent tax on medical device tax revenue. Implementing the tax, which has been delayed for two years since January 2018, could negatively impact the important work performed by 500 Zimmer Biomet Ohioans and contributes $6 billion in economic impact in Ohio alone. The United States is a global leader in medical technology innovation, but higher taxes and increased international competition threatens that leadership. Congressmen Gibbs and Joyce were joined by ten other members of Ohio’s Congressional delegation in the letter sent to Speaker Nancy Pelosi, Minority Leader Kevin McCarthy, Senate Majority Leader Mitch McConnell, and Minority Leader Chuck Schumer.
“We’ve seen the negative effects of the medical device tax before it was delayed in 2017, with nearly 30,000 jobs lost nationwide,” said Congressman Bob Gibbs. “Ohio’s medical device manufacturing industry currently employs more than 12,000 people, including Zimmer Biomet in the Seventh Congressional District. The jobs of 500 Ohioans Zimmer Biomet counts as team members could be at risk if this tax increase is implemented. My colleagues and I are asking congressional leaders from both chambers to recognize the importance of this issue to the hundreds of thousands of Americans who rely on the medical device industry for their livelihood.”
“Every day, Ohio’s medical technology companies manufacture life-saving devices like pacemakers, sterilizers and insulin pumps,” said Congressman Dave Joyce. “The federal government should not place additional burdens on medical innovators and entrepreneurs who not only employ thousands of Buckeyes, but also provide cutting edge medical products and treatments that save lives. That’s why I’m proud to support the repeal of the medical device tax alongside my colleagues from Ohio. If this burdensome tax goes back into effect, patients who rely on innovative medical technologies will ultimately be the ones who suffer the consequences, and that is simply unacceptable.”
A copy of the letter can be found here.