Congressman Brian Bilbray (CA-50) today issued the following statement after the passage of H.R. 436, the Health Care Cost Reduction Act of 2012:
"Today the House of Representatives successfully repealed the medical device tax, a measure that threatens jobs in the life science industry. With close to one-in-10 San Diegans out of work, we cannot afford tax policies that hurt job growth and stifle economic recovery. According to BIOCOM, the $4.9 billion medical device industry employs close to 10,000 San Diegans. If implemented, the 2.3 percent excise tax would have driven up the cost of everything from hospital supplies like syringes and hospital beds, to everyday devices like pacemakers and insulin pumps. Repealing this tax ensures that these jobs not only stay, but thrive in San Diego."