I want to get rid of a tax that is driving up health care costs for all Americans and costing jobs in Pennsylvania. That's why I joined a bipartisan group of senators, including Senator Casey, in sponsoring legislation to repeal the medical device tax that was included in the president's health care law.
Under the Affordable Care Act, manufacturers of medical devices, ranging from surgical tools to cochlear implants to defibrillators, are required to pay a 2.3 percent excise tax hike that raises costs for patients and hinders industry innovation, job creation and the overall delivery of quality patient care. The tax, which took effect in January 2013, was expected to cost device manufacturers roughly $194 million per month putting thousands of American jobs at risk, according to the Advanced Medical Technology Association.
Driving up medical bills and eliminating jobs are the last things that Pennsylvania families need these days. Unfortunately, the medical device tax is causing both problems and needs to be repealed.
I am pleased to join Chairman Hatch in co-sponsoring his bipartisan legislation in the Senate to repeal the medical device tax. This costly, job-killing tax is yet another example of how President Obama's health care law is hurting patients, workers, and our economy.
Note: The photo above is from Precision Medical Products in Denver, Pa. Employees there told me that the worst thing government can do is impose unnecessary regulations and taxes that raise the cost of doing business.