Lobbyists have blanketed the U.S. Congress to demand a repeal to the 2.3% medical device tax. The lobbyists claim that the tax is a terrible burden on medical device companies and is causing the companies to cut jobs – thus harming each Senator’s and Representative’s constituents. As scientists, we decided to determine the facts behind these claims.
The tax is an essential component of the Affordable Care Act; the funds help to make this important legislation affordable, by offsetting the costs of health insurance for those who otherwise could not afford it. Without the device tax, the subsidies would have $26 billion less in funding.
Our State fact sheets provide information on the total number of medtech jobs in the state and compares that to the total number of state residents who need key benefits of the Affordable Care Act. The Fact Sheets are linked below:
For additional information, see our report on the Device Tax.