Market Overview

California Life Sciences Association Commends House Vote to Permanently Repeal Medical Device Tax

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House overwhelmingly passes H.R. 184, a bill that permanently repeals
the 2.3% medical device tax

California
Life Sciences Association (CLSA)
, the trade association representing
California's life sciences sector, today applauded the U.S. House
passage of H.R. 184, the Protect Medical Innovation Act, which
permanently repeals the job and innovation hindering 2.3% medical device
excise tax levied on medical technology companies. The bill now awaits
U.S. Senate action. This statement can be attributed to Sara Radcliffe,
President & CEO, California Life Sciences Association:

"California Life Sciences Association (CLSA) applauds the U.S. House
passage of H.R. 184, legislation that permanently cancels the
ill-conceived 2.3% medical device tax, so that it cannot further hinder
innovation and investment in medical technology research and development.

"For many years, our trade association has consistently led the charge
in educating the California Congressional delegation on the perils of
this tax on innovation. CLSA and our broad membership of biomedical
innovators welcome today's news. We will continue to work diligently
with our bipartisan California congressional delegation until this tax
is fully repealed, and no longer a drag on medtech investment,
innovation and job creation.

"Since its inception in 2013, there has been increasing bipartisan
support to scrap the medical device tax. Full repeal is critical to
ensuring that the U.S. does not jeopardize our position as a global
leader in medical technology innovation. We urge the U.S. Senate to
swiftly take up this bill, and repeal the medical device tax once and
for all."

Impact of the Tax: According
to CLSA's 2018
California Life Sciences Industry Report
, California is home to
1,796 medical device firms employing over 77,200 people – more firms and
employees than any other state in the nation, and representing 18.5% of
the nation's medtech workforce – making the impact of the tax on our
state particularly troublesome.

Click
here
to view an op-ed in STAT News on the impact of the medical
device tax.

  • Learn
    more
    about California's life sciences industry
  • View
    CLSA's Legislative Action Center
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About California Life Sciences Association (CLSA)

California Life Sciences Association (CLSA) is the state's largest and
most influential life sciences advocacy and business leadership
organization. With offices in Sacramento, San Diego, South San
Francisco, Los Angeles and Washington DC, CLSA works closely with
industry, government, academia and others to shape public policy,
improve access to innovative technologies and grow California's life
sciences economy. CLSA serves biotechnology, pharmaceutical, medical
device and diagnostics companies, research universities and institutes,
investors and service providers throughout the Golden State. CLSA was
founded in 2015 when the Bay Area Bioscience Association (BayBio) and
the California Healthcare Institute (CHI) merged. Visit CLSA at www.califesciences.org,
and follow us on Twitter @CALifeSciences,
Facebook,
Instagram,
LinkedIn
and YouTube.

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