Nearly 1,000 organizations have signed a letter requesting that the U.S. Congress repeal the medical device excise tax.
The healthcare law imposes more than $30 billion in new excise taxes on medical technology companies, and these taxes are "stifling innovation and U.S. competitiveness," according to the letter, which is signed by vendors such as GE Healthcare, Siemens Healthcare, and Toshiba America Medical Systems.
"The tax is already having an adverse impact on R&D investment and job creation, jeopardizing the U.S. global leadership position in medical device innovation," it continues. "If this tax is not repealed, it will continue to force affected companies to cut manufacturing operations, research and development, and employment levels to recoup the lost earnings due to the tax. It will also adversely impact patient access to new and innovative medical technologies."
The letter was sent to Senate Majority Leader Harry Reid (D-NV), Senate Minority Leader Mitch McConnell (R-KY), House Speaker John Boehner (R-OH), and House Minority Leader Nancy Pelosi (D-CA).
