The Republican led House has been busy since taking over the majority. We have passed over two dozen jobs bills, made strides in reducing the national debt, passed numerous bipartisan bills to eliminate costly and burdensome regulations as well as passed legislation to increase domestic energy production.
Our agenda for the summer will be no different. We have votes planned on a series of legislative proposals to spur job creation, reduce spending, and further create an environment for economic growth.
At the top of that list will be a vote extending the 2001 and 2003 tax rates that were first implemented by President Bush and later extended by President Obama in 2010. By extending these rates we will prevent a tax increase on millions of Americans and will provide much needed certainty to the economy by ensuring no individual or small business will see an increase in their taxes as we continue our work on a larger comprehensive tax reform package to bring down the tax rates for all. Ultimately, we need a tax code that is less complex and more fair, which I believe will help reinvigorate economic growth and prosperity here in the U.S. I expect a vote to take place in July.
This week the House Ways and Means Committee, on which I serve, approved four bills that will repeal additional provisions of President Obama's health care law and improve our health care system.
I expect one of these bills, the Protect Medical Innovation Act, H.R. 436, of which I am a co-sponsor, to be voted on by the full House next week. H.R. 436 repeals the medical device tax that was included in the President's Health Law. This provision will impose a 2.3 percent excise tax on medical devices beginning in 2013. The CMS Office of the Chief Actuary has predicted that much of this excise tax would generally be passed through to health consumers in the form of higher device prices. At the same time, an industry study estimates that this new tax could result in the loss of up to 43,000 American jobs. This is unacceptable, which is why I am pushing for a full repeal of this tax immediately.
During the months of June and July, the House will also vote on several new energy proposals and vote to eliminate what are called "Midnight Regulations," those costly regulations that are implemented by the Administration. Also, be on the lookout for the ruling by the Supreme Court on the constitutionality of President Obama's health care law.
As each of these issues develops over the summer, I will be sure to keep you updated.