U.S. Senators Orrin Hatch (R-Utah) and Amy Klobuchar (D-Minn.) praised Senate passage of an amendment they introduced to the Fiscal Year (FY) 2014 Budget Resolution that would repeal the medical device tax that was included in the Patient Protection and Affordable Care Act (PPACA). The amendment passed by a vote of 79 to 20.
"Today, bipartisan members of the Senate spoke loudly and clearly that this tax on
medical devices simply must go. It is a drain on innovation, on job creation and on our ability to provide ground breaking medical technologies to patients," said Hatch, who serves as the Ranking Member on the Senate Finance Committee. "The importance of this vote cannot be overstated. For the first time, Democrats and Republicans have come together in recognizing how bad this tax is. We cannot stop here -- we must continue the fight to get rid of this tax and I look forward with continuing to work with Senator Klobuchar and the other backers of this amendment and our bill to repeal this tax once and for all."
"Today's action shows there is strong bipartisan support for repealing the medical device tax, with Democrats and Republicans uniting behind our effort," Klobuchar said. "I will continue to work to get rid of this harmful tax so Minnesota's medical device businesses can continue to create good jobs in our state and improve patients' lives."
The Hatch-Klobuchar amendment would repeal the $30 billion tax on medical device companies in PPACA to promote innovation, preserve high-paying jobs, and encourage economic growth for manufacturers of lifesaving medical devices and cutting edge medical therapies. This amendment would not only help ensure that the United States remains the largest net exporter of medical devices, exporting $5.4 billion more than it imports, but will also prevent a loss of 43,000 high paying American jobs in this innovative sector.
Earlier this year, Hatch and Klobuchar introduced the Medical Device Access and Innovation Protection Act in the Senate, which will fully repeal the medical device tax. In addition to Hatch and Klobuchar, the bill is cosponsored by Sens. John Cornyn (R-Texas), Joe Donnelly (D-Ind.), Richard Burr (R-N.C.), Al Franken (D-Minn.), Pat Toomey
(R-Pa.), Bob Casey (D-Pa.), and Dan Coats (R-Ind.).