Boston Scientific Applauds U.S. Medical Device Tax Suspension, Looks Ahead Toward Repeal3 months, 3 weeks ago
Posted on Jan 24, 2018, 2 p.m.
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Boston Scientific Applauds U.S. Medical Device Tax Suspension, Looks Ahead Toward Repeal
The initial intent if taxes were to put a government in place to protect us. When taxes interfere with the innovation of healthcare reinvestment to make protects so protect us and save our lives-- there is a problem. I applaud the US Congress and US Senate for finally pushing forward an initiative that puts people first. I applaud Boston Scientific for bringing this positive government movement to our attention. If we don't as a society continue to put people first a head of the all mighty dollar, we have failed the very purpose of the government our forefathers envisioned.Dr. Jeff Winternheimer, D.C., Medical Editor
Boston Scientific commends the efforts of key champions in the U.S. House and Senate for their successful efforts to suspend the medical device tax, allowing the device industry to reinvest in work to benefit patients.
Specifically, U.S. Representatives Erik Paulsen (R-MN), Jackie Walorski (R-IN), Jim Banks (R-IN), Larry Buchson (R-IN), Tom Emmer (R-MN), Richard Neal (D-MA), Ron Kind (D-WI), Scott Peters (D-CA), and Suzan DelBene (D-WA) and Senators Orrin Hatch (R-UT), Todd Young (R-IN), Pat Toomey (R-PA), Amy Klobuchar (D-MN) and Joe Donnelly (D-IN) were instrumental in the device tax suspension.
“We applaud the U.S. House and Senate for suspending the medical device tax,” said Mike Mahoney, chairman and chief executive officer, Boston Scientific. “The suspension allows us to continue our plans for investing in more innovative, life-changing medical products while we work toward full repeal.”
Introduced in 2013 as part of the Affordable Care Act, the 2.3 percent medical device excise tax was imposed on revenue. When Congress approved a two-year suspension in 2015, Boston Scientific leveraged savings to reinvest in research and development. Through several innovative projects with leading medical facilities, Boston Scientific has been able to combine our manufacturing expertise with novel ideas from physicians to develop products that address unmet clinical needs.
Boston Scientific will continue to advocate for permanent repeal of the medical device tax in appropriate legislative vehicles.