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Repealing Medical Device Tax "A Stake in the Ground for American Innovation"


Location: Washington, DC

"We have an unbelievable opportunity to correct an error in current law and that's this:

In a couple of hours, the House Ways and Means Committee is going to take up the repeal of the Medical Device Tax, and that's important at a couple of different levels.

First is, we have had an operating assumption within all of our lifetimes, who are present here today, that there is going to be a new, fantastic, life-changing, transformational healthevent or device that comes along, and we have all assumed it. But that assumption is at risk now because of this device tax that does two things:

It puts a restraining influence on innovation and puts more and more pressure to put innovation overseas.

With the repeal of this device tax the committee will take up today, we've got not only a chance to put a stake in the ground in terms of American innovation, but also to do somethingthat would be a restraining influence against the 43,000 jobs that this is likely to cost.

Look, the White House is running an approach that says that the only way they can seek reelection and ultimately win reelection is to distract the American public from failed policies.

Failed policies on job creation and taxes and energy and healthcare and it's an old playbook that says look at the shiny object over here, but the public is not going for it.

They say we want to focus in on where House Republicans are focused and that is around job creation and fiscal discipline."

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