WASHINGTON, May 31, 2012 /PRNewswire-USNewswire/ -- Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association (AdvaMed), issued the following statement on today's mark-up in the House Ways and Means Committee of H.R. 436, the Protect Medical Innovation Act of 2011, a bill that would repeal the 2.3% excise tax on medical devices scheduled to begin in 2013:
"AdvaMed is very pleased that Congress has taken the first step to stop the medical device tax, a tax that could cost as many as 40,000 jobs and lead to reductions in research and development that will stifle the search for tomorrow's treatments and cures.
"AdvaMed appreciates the leadership of Rep. Erik Paulsen (R-MN) on this pressing issue, and commends the committee for acknowledging the important role that the medical technology sector plays in the nation's economy.
"As Congress continues to move forward with this reform legislation, we urge them to consider how the life-changing technology produced by medical device manufacturers improves the quality of life of patients worldwide. This tax must be repealed so that the medical technology industry can continue to grow and innovate."
NOTE: Find an interactive 50-state map with information on the number of medical technology jobs, sales, average salaries and more here.
AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.