InsideHealthPolicy features commentary from CLSA President & CEO Sara Radcliffe regarding the 2 year suspension of the medical device tax.
California Life Sciences Association (CLSA) applauds the House and Senate passage of legislation that temporarily suspends the ill-conceived 2.3% medical device tax for an additional 2 years, until December 2019.
On Dec. 20, Congress passed a sweeping overhaul of the tax code in the form of H.R. 1, the Tax Cuts and Jobs Act. While CLSA did not take a position on the overall legislation, we did work in close collaboration and coordination with BIO and our CLSA member companies to ensure that the Orphan Drug Tax Credit – a meaningful incentive for investment in rare disease therapy innovation – was preserved in the final bill passed by Congress.
This month, Reps. Erik Paulsen (R-Minn.) and Jackie Walorski (R-Ind.) and House Ways & Means Committee Chairman Brady (R-Texas) introduced new legislation to provide a 5-year suspension of the medical device excise tax (H.R. 4617). The current suspension of the 2.3% medical device excise tax expires Dec. 31, 2017.
Sara Radcliffe, Pres. & CEO, CLSA & Don Bobo, Corporate Vice President, Strategy & Corporate Development, Edwards Lifesciences, pen an op-ed in The O.C. Register, urging Congress repeal the 2.3% medical device tax. The tax stands to threaten an innovative medtech sector that employs over 22,000 in Orange County and 77,200 statewide.
On Dec. 6, CLSA hosted our annual End of Year Reception on Capitol Hill in Washington, DC. Over 150 guests attended the reception, including California Reps. Tony Cárdenas, Jimmy Panetta), Jackie Speier, and David Valadao, and staff from more than half of our California congressional delegation’s offices.
During Crohn’s and Colitis Awareness Week, CLSA hosted a congressional briefing on Dec. 6 on “Enhancing Patient Access to Therapies for Inflammatory Bowel Disease (IBD).”
California Life Sciences Association (CLSA) welcomes the introduction of H.R. 4617, legislation that places a 5-year freeze on the ill-conceived 2.3% medical device excise tax. Without swift enactment of this measure, the medical device tax would further hamper innovation and investment in medical technology research and development.
Congress is currently advancing legislation in both chambers to significantly overhaul the U.S. tax code. Historically, CLSA has focused our tax-related advocacy efforts around: (1) calling for an update and making permanent of the R&D Tax Credit, (2) protecting the Orphan Drug Tax Credit (ODTC), and (3) opposing the creation of and later calling for a repeal of the medical device tax.
The Independent Payment Advisory Board (IPAB) is a controversial advisory board enacted as part of the Affordable Care Act in 2010, which threatens seniors’ care and could harm biomedical innovation by reducing incentives for investment in new research and product development.