The Medical Imaging & Technology Alliance (MITA) has voiced its support for H.R. 4716, introduced by Representatives Erik Paulsen (R-Minn.) and Jackie Walorski (R-Ind.), that will suspend the medical device tax for five years.
“MITA appreciates the leadership of Reps. Paulsen and Walorski and Chairman Kevin Brady in working to address the medical device tax before it is set to resume in the new year,” says Patrick Hope, executive director of MITA. “The five-year suspension is a step in the right direction for stimulating economic growth, encouraging medical innovation and improving patient care.”
“Allowing the device tax to restart in 2018, even temporarily, would amount to a tax hike on the industry and could result in job loss, as well as disruptions to the medical imaging industry’s ability to innovate. Ultimately, we hope that Congress will continue to work toward full repeal of the medical device tax to safeguard high-paying, high-quality industry jobs and ensure that patients have access to the latest medical imaging technology.”
The 2.3% medical device excise tax was levied on the sale of medical devices that are fundamental to the practice of medicine both in diagnosing and treating disease. A bipartisan coalition in the House and Senate came together in 2015 to approve a two-year suspension of the tax, but is set to expire at the end of the year.