Today, Congressman David P. Joyce (R-OH) released the following statement on introduction of the bipartisan Protect Medical Innovation Act H.R. 523, which would repeal a nearly $30 billion tax on medical devices:
"Now is not the time to be raising taxes on American manufacturing," Joyce said. "Congress should make it easier, not harder for American businesses to create more high-paying jobs and careers for qualified Americans ready to work. We need to protect jobs, not threaten them."
The 14th district is home to several device manufacturers including STERIS Corporation in Mentor and Philips Healthcare in Highland Heights. According to The Lewin Group , Inc., this tax hike puts at risk the 422,778 American jobs in the medical device industry.
The Protect Medical Innovation Act was introduced by Rep. Paulsen (R-MN) and Rep. Kind (D-WI). The legislation has 175 original cosponsors including Rep. Renacci, Rep. Johnson and Rep. Chabot from Ohio.