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Paulsen: Study Confirms Medical Innovation Tax Puts Jobs At Risk

FOR IMMEDIATE RELEASE: September 7th, 2011

 

Paulsen: Study Confirms Medical Innovation Tax Puts Jobs At Risk

Co-Chair of the House Medical Technology Caucus Weighs In on AdvaMed Report

 

Eden Prairie, MN – Rep. Erik Paulsen (MN-03), co-chair of the House Medical Technology Caucus, issued the following statement in response to a new study that confirms the $20 billion medical innovation tax will put 43,000 medical device manufacturing jobs, including those in Minnesota, at risk. The tax is part of the 2010 healthcare reform law and is slated to go into effect in 2013.

“Since the day this ill-conceived tax on medical innovation was first proposed, I have said it will reduce access to new, life-saving technologies and put American jobs on the line. Today’s study from AdvaMed proves this to be the case,” said Rep. Paulsen. “I strongly urge President Obama and Congress to stop the medical innovation tax from going into effect before it causes more job losses in our already fragile economy.”

As Co-Chair of the House Medical Technology Caucus, Paulsen has been a champion of medical technology innovation. He has recruited over 170 cosponsors to his bill to repeal the 2.3% innovation tax on medical devices.  On June 2nd, Paulsen testified before the House Oversight and Government Reform Committee about the need to reform the FDA’s pre-market review processes and is working to draft legislation to improve transparency and predictability at the agency.

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