The Affordable Care Act created a new tax on medical devices that took effect in 2013. The tax uniquely targets medical devices and limits innovation by redirecting resources that could be used to fund R&D and to invest in manufacturing. MichBio has been a strong proponent of repealing the medical device excise tax given that the cluster is now the bio-industry's largest sector in Michigan.
Despite strong bipartisan support repeal, the issue has been stalled in Congress. This summer, the House of Representatives voted to repeal the device tax. Now, we need the Senate to take action. There are several outstanding issues that Congress must address before the end of the year. It is important that repeal of the medical device tax is included in any legislative package that may be acted on before the end of the year.
To help raised raise awareness of the issue and to encourage action, MichBio is supporting a range of activities. Recently, MichBio joined UNITED4INNOVATION.org, which allows our members to learn more about the issue and to contact your Member of Congress with just one click. Visit the website and use the tool to email your Senator today!
Additionally, MichBio will help you draft a personal letter to legislators. For assistance, email Stephen Rapundalo, PhD, President and CEO, MichBio.