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Protect Medical Innovation Act of 2015

Floor Speech

Date: June 17, 2015
Location: Washington, DC
Issues: Taxes Health and Health Care

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Mr. MEEHAN. Mr. Speaker, let me begin by dispelling the premise that somehow this whole thing was devised so that we can allow the medical device companies to flourish. The thing we want to flourish is research and development that is producing the kinds of things that are helping the American people, and that is the essence of what the medical device R&D innovation is doing, and this is stifling.

At the precise moment where breakthrough opportunities, oftentimes, in small businesses--I see them, Mr. Speaker; I visit them in my district--and at the time that it is the most fragile for them, they are being hit with this 2.4 percent tax which touches them at the time when it is not on profits. These are the very dollars that are being used to be invested into R&D, whether they sell that product or not. We are killing our innovation right in the cradle.

I strongly encourage my colleagues to support the repeal of the medical device tax.

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