The eyes of the nation are on the Supreme Court as we await their decision in the landmark case on the constitutionality of President Obama's health care law. Just over two months ago, the nine Supreme Court justices heard roughly six hours of oral arguments on several portions of the massive health care law. Since then they have been reviewing additional materials before issuing a written opinion, which is expected by the end of the month.
With a case of this magnitude, it is hard to predict the final opinion of the Court from the oral arguments alone. But it is clear that the majority of Americans are looking to the Supreme Court for relief from the costly mandates of Obamacare. In fact, one recent survey indicates that almost 70 percent of Americans want the Supreme Court to overturn some or all of this flawed law.
Even as we await the Court's decision, the House of Representatives is determined to push forward in the fight to repeal the disastrous government takeover of our health care system. Just days ago the House passed bipartisan pro-innovation, pro-jobs legislation, the Protect Medical Innovation Act, which repeals several harmful pieces of the health care law that limit choice and flexibility for consumers.
First, the bill repeals the 2.3 percent tax that will be imposed on the sale of medical devices starting in 2013. Estimates suggest that this new tax on medical devices could potentially result in the loss of up to 47,000 American jobs. In Virginia, there are roughly 4,700 jobs in the medical technology industry. This burdensome tax on innovation would also increase health care costs and harm American manufacturing. With millions of Americans already searching for employment and the economy struggling to turn around, enacting this tax that would disproportionately impact small businesses defies common sense.
Additionally the legislation restores the right of consumers to use Health Savings Accounts, Flexible Spending Arrangements, Archer Medical Savings Accounts and others to purchase over-the-counter medications without a prescription. The Obamacare law instituted a ban on using these important accounts for purchasing other-the-counter drugs. This provision of the so-called health care reform bill has already gone into effect, resulting in increased health care costs for many Americans so it needs to be repealed now.
Finally, the Protect Medical Innovation Act puts an end to the "use it or lose it" policy concerning Flexible Spending Arrangements, known as FSAs, allowing account holders to cashout up to $500 of the unused FSA balance. Currently unused FSA balances are forfeited back to the employer.
I have worked in opposition to President Obama's health care law for nearly three years. I have now taken more than 25 votes in the 112th Congress to repeal, dismantle, or defund the law but I will not stop fighting until this monstrosity has been repealed in its entirety.