FOR IMMEDIATE RELEASE: May 31^st, 2012

Paulsen Legislation Heads to House Floor for Vote

Device Tax Repeal Clears Ways and Means Committee with Bipartisan Support

Washington, D.C. - Representative Erik Paulsen’s legislation to repeal the new $29 billion excise tax on medical devices cleared a legislative hurdle today when it was overwhelmingly approved by the Ways & Means Committee, the chief tax writing committee, on a vote of 23 - 11. The Protect Medical Innovation Act would repeal the 2.3% excise tax levied on American device companies in the new healthcare law that is set to take aim in less than seven months. The legislation is expected to be on the House floor next week for a vote. 

Shepherding the legislation through the Ways and Means Committee, Representative Paulsen noted, “Our country is a leader in medical technology innovation. But this new excise tax would force many companies to lay off workers, move jobs overseas, or worse yet, close their doors altogether. Today, a bipartisan group of representatives took a stand to protect American innovators from a disastrous tax on an industry that accounts for over 423,000 jobs in our country. I appreciate the support from my colleagues on Ways and Means and look forward to seeing its successful passage on the House floor next week.”  

Also today, the Ways and Means Committee passed two other pieces of legislation to improve health savings accounts and flexible spending accounts.  Rep. Paulsen is a co-sponsor of both, and also introduced similar legislation last year.  

*For more information please click on the links below: 

PROTECT MEDICAL INNOVATION ACT:  Facts and Information, Legislation (HR. 436)

HSA/FSA:  Op-Ed: Paulsen and Jenkins: Health Care Provision on OTC Drugs Hurts Consumers, H.R. 605, “To amend the Patient Protection and Affordable Care Act to repeal certain limitations on health care benefits”, H.R. 5858, “To amend the Internal Revenue Code of 1986 to improve health savings accounts, and for other purposes”

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

For more information on Rep. Paulsen’s work in Congress, and for past segments of Erik's Correspondence Corner, please visit www.paulsen.house.gov.

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