FOR IMMEDIATE RELEASE: November 2^st, 2011

Paulsen Legislation to Repeal Medical Innovation Tax Gains 204 Co-Sponsors

Sign of Growing Momentum to Protect Medical Technology Jobs

Washington, D.C. – In the fight to protect U.S. medical device manufacturing jobs, 204 members of the House have now joined Representative Erik Paulsen (MN-03) on his bipartisan bill to repeal the $20 billion medical innovation tax. The tax is part of the 2010 healthcare law and is slated to go into effect in 2013. Rep. Paulsen, co-chair of the House Medical Technology Caucus, issued the following statement on gaining his 204^th  co-sponsor.

“Medical device innovation is not just a Minnesota success story, it’s a true American success story,” said Rep. Paulsen. “This ill-conceived tax on innovation will jeopardize jobs and reduce access to new, life saving technologies for Americans all over this nation. The President has said “we can’t wait” for action on jobs, an essential step for jobs creation and economic growth would be to support our effort to repeal this destructive and counterproductive medical device tax.”  

According to recent study by the Advanced Medical Technology Association (AdvaMed), the medical innovation tax could cost this country 43,000 out of its 400,000 medical device-related jobs. Paulsen has been fighting to repeal this tax ever since the healthcare bill was signed into law last year.

Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation currently serves on the House Ways and Means Committee, and is co-chair of the Congressional U.S. - Korea Free Trade Working Group and co-chair of the House Medical Technology Caucus.

For more information on Rep. Paulsen’s work in Congress, please visit www.paulsen.house.gov.

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