Gibbs, House Pass Repeal of Medical Device Tax
WASHINGTON, DC – On Thursday the House of Representatives voted on H.R. 160, the Protect Medical Innovation Act. H.R. 160 will repeal the medical device tax included in Obamacare. The tax adds a 2.3 percent excise to purchases of certain medical devices. Critics of the tax, including Congressman Bob Gibbs, have argued that the tax will stifle growth and innovation in the medical technology industry while passing the costs on to the consumer.
After passage, Congressman Bob Gibbs released the following quote:
“I am pleased to see this important bill pass. The repeal of the medical device tax is critical to maintaining America’s leadership in the fields of medical research and technology. With healthcare costs already increasing at an alarming rate, increased taxes on life-saving devices like pace-makers will only make them less affordable for those who need them.”