Navigation Links
The California Healthcare Institute Responds to New Efforts to Repeal the Federal Medical Device Excise Tax
Date:2/7/2013

La Jolla, Calif. (PRWEB) February 07, 2013

The California Healthcare Institute (CHI) today released a statement in response to reintroduced legislation to repeal the 2.3 percent federal excise tax on medical device manufacturers.

“CHI strongly supports efforts to repeal the medical device excise tax, which threatens important research and development, and is already pressuring jobs at a time when we should be doing everything we can to encourage investment, innovation and job creation,” said CHI President and CEO David L. Gollaher, Ph.D. “As a tax on revenues, not profits, it especially discriminates against smaller device companies with pioneering ideas that have yet to reach the marketplace.”

Given the size and scope of the medical technology sector’s presence in California, the 2.3 percent tax has a disproportionate impact on the state. California is home to more than 1,200 medical technology companies — more than any other state in the nation — and the nearly 72,000 medical device jobs in California represent roughly 17 percent of the total U.S. medical technology workforce. Vibrant medical technology clusters exist in and around San Diego, San Francisco/Silicon Valley, Orange County and Sacramento, as well as the Los Angeles, Ventura/Santa Barbara, and Riverside/San Bernardino regions.

In California and nationwide, the tax has already had a negative effect on industry innovators, with large and small companies looking for ways to cut costs, which generally means hiring fewer workers and reducing investments in R&D.

CHI continues to work with California’s congressional representatives, including many who have signed on to co-sponsor the measure, in order to repeal this destructive tax. CHI applauds the bill’s original co-sponsors: John Campbell (R-Irvine), Susan Davis (D-San Diego), Jeff Denham (R-Turlock), Darrell Issa (R-Vista), Doug LaMalfa (R-Richvale), Scott Peters (D-San Diego), Ed Royce (R-Fullerton), David Valadao (R-Hanford) and Juan Vargas (D-San Diego).

About CHI
CHI represents more than 275 leading biotechnology, medical device, diagnostics, and pharmaceutical companies, and public and private academic biomedical research organizations. CHI’s mission is to advance responsible public policies that foster medical innovation and promote scientific discovery. CHI’s website is http://www.chi.org. Follow us on Twitter @calhealthcare, Facebook, LinkedIn and YouTube.

Read the full story at http://www.prweb.com/releases/2013/2/prweb10409904.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related biology technology :

1. California Healthcare Institute Appoints Allergan CEO Chairman of the Board, Elects New Board Members
2. Precision Coating to Showcase Next Generation Coating Deposition Technology at MD&M West Show in Anaheim, California
3. California Biomedical Companies Report Higher Product Approvals, Fewer Delays
4. Bayer CropScience Announces Registration for use of Alion on Grapes in California
5. New "GMO Inside" Campaign Denounces Corporate Disinformation Campaign That Defeated Californias Prop 37
6. Islet Sciences Announces Exclusive License Agreement with the University of California (UCLA) to Commercialize Small Molecules for Islet Expansion
7. University of California, San Francisco (UCSF) Selects Conflict of Interest Management System
8. California Physical Therapists Prediction Proved "Right" by Results of State Board Audit
9. California Healthcare Institute Issues Statement on Supreme Court Ruling on the Affordable Care Act
10. Californians Take One Step Closer to Directly Accessing Physical Therapy Services for Immediate Treatment
11. Lightning Brewery’s Craft Beer Old Tempestuous Ale Wins Best of Show at 2012 California State Fair Commercial Brewing Competition
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... ... 11, 2016 , ... Global Stem Cells Group, ... Global Stem Cells Network (GSCN) to distribute exosome injection and other biological products ... Costa Rica, Dominican Republic, Colombia, Argentina, Nicaragua, Panama, El Salvador, Venezuela, Peru, Ecuador, ...
(Date:2/10/2016)... MONTREAL , Febr. 10, 2016 /PRNewswire/ - BioAmber Inc. ... is pleased to announce that Mitsui & Co. Ltd., ... bio-based succinic acid plant, is investing an additional CDN$25 ... equity, increasing its stake from 30% to 40%.  Mitsui ... of bio-succinic acid produced in Sarnia ...
(Date:2/10/2016)... ANNAPOLIS, Md. , Feb. 10, 2016  The ... E. Busch , has announced that University of Maryland ... MD, PhD, MBA and University of Maryland Medical System ... recipients of the "Speaker,s Medallion," the highest honor given ... House of Delegates. Dean Reece and ...
(Date:2/10/2016)... -- ASAE is introducing a hybrid membership model which ... option of joining or renewing through an organizational purchasing ... size, every employee in any size association or AMC ... available member benefits.   John H. Graham, ... will allow organizations of any size and their employees ...
Breaking Biology Technology:
(Date:1/28/2016)... SYNA ), a leading developer of human interface solutions, today ... --> --> Net revenue ... to the comparable quarter last year to $470.5 million. Net income ... $0.93 per diluted share. --> ... 2016 grew 9 percent over the prior year period to $60.3 ...
(Date:1/22/2016)... DUBLIN , Jan. 22, 2016 /PRNewswire/ ... announced the addition of the "Global ... report to their offering. --> ... of the "Global Biometrics Market in ... offering. --> Research and ...
(Date:1/18/2016)... SAN JOSE, Calif. , Jan. 18, 2016 ... storage security software that simplifies the use and ... a technology and go-to-market partnership with American Cyber.  ... "American Cyber brings extensive experience leading transformational C4ISR ... missions implementing and integrating the latest proven technology ...
Breaking Biology News(10 mins):