Washington, D.C. – The Medical Imaging & Technology Alliance (MITA), the Advanced Medical Technology Association (AdvaMed) and the Medical Device Manufacturers Association (MDMA) today announced that medical device manufacturers have now paid an estimated $1 billion to the Internal Revenue Service for the medical device excise tax. In reaching this threshold, the device tax has denied device manufacturers the resources that would have otherwise been available to invest in research and development (R&D), capital investments and to support good-paying jobs across America.Continue reading
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Study: Medical Device Tax Could Cost Jobs, Stifle Innovation
WASHINGTON,D.C. –The medical device tax, if implemented, could cost tens of thousands of jobs, almost double the industry’s total taxes, raise the effective tax rate to among the highest in the world, and harm U.S. competiveness, according to a study released today by the Advanced Medical Technology Association (AdvaMed). The new study, “Employment Effects of the New Excise Tax on the Medical Device Industry,” by Manhattan Institute senior fellow Diana Furchtgott-Roth and Hudson Institute senior fellow Harold Furchtgott-Roth, outlines a number of economic harms likely to result from the tax.Continue reading