U.S. Representative Ed Royce (R-Fullerton) released the following statement on passage of the Protect Medical Innovation Act of 2015 (H.R. 160) through the U.S. House of Representatives after voting for the bill:
“This tax is an unnecessary barrier to the creation of the high tech, high paying jobs that characterize Orange County’s medical device manufacturing sector. The tax also makes lifesaving medical devices more costly for the patients and families who depend on them.”
The Protect Medical Innovation Act of 2015, of which Rep. Royce is an original cosponsor, would eliminate the 2.3 percent excise tax imposed on the sale of medical devices that was enacted in 2013 as part of the Patient Protection and Affordable Care Act.
The Medical Devices and Diagnostic Equipment manufacturing sector provides over $21 billion in total economic activity to the Southern California economy while supporting over 102,000 jobs that pay in excess of $7.4 billion in salaries, wages, and benefits. In Orange County alone, it is estimated that 22,531 people worked in the Medical Devices and Diagnostic Equipment sector during 2013, contributing $11 billion of economic activity with an average wage of $106,712 per year.
Rep. Royce represents California’s 39th Congressional District, which includes the municipalities …read more
Source:: U.S. Rep. Ed Royce