California Life Sciences Association Applauds Suspension of the Medical Device Tax
23 Januar 2018 - 12:19AM
Business Wire
Congress passes Continuing Resolution (CR)
providing short-term funding to federal government, and placing
2-year moratorium on medical device excise tax until December
2019.
California Life Sciences Association (CLSA), the trade
association representing California’s life sciences industry, today
commended the U.S. House and U.S. Senate’s action to suspend until
December 2019 the job and innovation destroying 2.3% medical device
excise tax levied on medical device firms. The tax was originally
established as part of the Affordable Care Act. The device tax
moratorium was included as a provision of H.R. 195, a short-term
federal government funding bill, which passed both chambers today.
This statement can be attributed to Sara Radcliffe, President &
CEO, California Life Sciences Association:
“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. Since its inception, this tax has only
hindered innovation and investment in medical technology research
and development.
“While our membership, comprised of the nation’s leading medical
technology innovators, certainly welcomes an additional 2-year
reprieve from the tax, CLSA will continue to advocate for full and
permanent repeal, so that the U.S. does not jeopardize our position
as a global leader in medical technology innovation.”
Impact of the Tax: According
to CLSA’s newly released 2018 California Life Sciences Industry
Report, California is home to 1,796 medical device firms employing
over 77,200 people – more firms and employees than any other state
in the nation, and representing 18.5% of the nation’s med tech
workforce – making the impact of the tax on our state particularly
troublesome.
- Click here to view CLSA’s Legislative
Action Center.
- To learn more about California’s life
sciences industry, visit www.califesciencesindustry.com.
About California Life Sciences Association (CLSA)
California Life Sciences Association (CLSA) is the state’s
largest and most influential life sciences advocacy and business
leadership organization. With offices in Sacramento, San Diego,
South San Francisco, Los Angeles and Washington DC, CLSA works
closely with industry, government, academia and others to shape
public policy, improve access to innovative technologies and grow
California’s life sciences economy. CLSA serves biotechnology,
pharmaceutical, medical device and diagnostics companies, research
universities and institutes, investors and service providers
throughout the Golden State. CLSA was founded in 2015 when the Bay
Area Bioscience Association (BayBio) and the California Healthcare
Institute (CHI) merged. Visit CLSA at www.califesciences.org, and
follow us on Twitter @CALifeSciences, Facebook, Instagram, LinkedIn
and YouTube.
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California Life Sciences Association (CLSA)Will Zasadny |
Director, Communicationswzasadny@califesciences.org |
619-961-8848