Alliance for Aging Research Statement on the Introduction of the Protect Medical Innovation Act
Published April 11, 2019
WASHINGTON, April 11, 2019 – Alliance for Aging Research President and CEO Susan Peschin, MHS, issued the following statement on introduction of bipartisan legislation (H.R. 2207) to permanently repeal the medical device excise tax:
We commend Rep. Ron Kind (D-WI), Rep. Jackie Walorski (R-IN), Rep. Scott Peters (D-CA), and Rep. Richard Hudson (R-NC) for introducing H.R. 2207, the Protect Medical Innovation Act, which seeks the permanent repeal of the excise tax on medical devices.
The excise tax negatively impacts the medical device industry’s ability to develop new products that can improve the detection and treatment of age-related diseases and conditions. At a time when the American population is aging, our tax code should not be constricting research and development for medical products that can improve the lives and health of older adults. We commend the bill’s 226 co-sponsors for recognizing the burden the 2.3 percent tax places on companies trying to develop innovative medical devices.
We urge Congress to act swiftly and amend the Internal Revenue Code to permanently repeal the excise tax on medical devices. Congressional support to repeal the medical device excise tax will help ensure the medical device industry remains competitive globally and at the forefront of innovations that will help protect older adults who depend on these medical products.
• Alliance for Aging Research Urges Congress to Repeal Medical Device Excise Tax
About the Alliance for Aging Research
The Alliance for Aging Research is the leading nonprofit organization dedicated to accelerating the pace of scientific discoveries and their application to vastly improve the universal human experience of aging and health. The Alliance believes advances in research help people live longer, happier, more productive lives and reduce healthcare costs over the long term. For more than 30 years, the Alliance has guided efforts to substantially increase funding and focus for aging at the National Institutes of Health and Food and Drug Administration; built influential coalitions to guide groundbreaking regulatory improvements for age-related diseases; and created award-winning, high-impact educational materials to improve the health and well-being of older adults and their family caregivers. For more information, visit www.agingresearch.org