U.S. Congressman Marlin Stutzman announced his support for legislation introduced today to repeal Obamacare's medical device tax, a job-killing burden to Indiana's medical device industry.
"It's a proven fact that what you tax you get less of and what you subsidize you get more of and that is the case with Obamacare. President Obama's tax on medical devices is costing Hoosiers jobs and must be repealed.
"Northeast Indiana is the orthopedic capital of the world. The medical device industry employs nearly 6,800 Hoosiers in Warsaw, Indiana, alone at DePuy, Zimmer and Biomet and more than 20,000 Hoosiers statewide at companies like Cook Medical, Boston Scientific and Roche.
"However, these jobs are leaving the state due to the 2.3 percent tax that's being levied on Indiana companies under Obamacare. According to some studies, the President's tax hike could eliminate more than 2,000 Hoosier high-paying jobs.
"Taxing success is no way to encourage job growth. I look forward to voting to repeal this onerous tax once and for all."
·Congressman Stutzman is an original co-sponsor of H.R. 523, the Protect Medical Innovation Act, introduced today by Congressman Erik Paulsen (R-MN). The legislation eliminates the 2.3 percent tax on medical device sales included in President Obama's Patient Protection and Affordable Care Act.
·Northeast Indiana is home to a third of the global orthopedic device manufacturing market. Hoosiers in the emerging sector manufacture artificial keens, hips, and spinal products.
·Last June, the House of Representatives passed similar legislation, co-sponsored by Stutzman.
·In 2011, Stutzman hosted a congressional field forum on the medical device tax and its impact on Indiana. Stutzman was joined by members of the Indiana delegation, Congressman Paulsen, patients, and representatives of the orthopedic industry.