Tax on Medical Devices ResumesJanuary 3, 2018 |
by Meg Bryant
The device industry has long pushed for repeal of the excise tax, recruiting unconventional allies including Democratic lawmakers from states with big industry in Massachusetts and Minnesota. The Advanced Medical Technology Association (AdvaMed), the industry’s main trade association, has argued the tax hurts research and development and cost 29,000 medtech jobs during the three years it was in effect.
According to group, employment at medical device companies dipped slightly in 2012, ahead of the tax’s implementation, then fell 1.1% in 2013 and 6.6% in 2014 after it took effect. Between 2011 and 2014, the overall number of people employed in the industry fell from 402,000 to 370,000.