July 24, 2018

Medical Device Tax by the Numbers

Ten reasons to end the destructive tax on innovation

Obamacare’s 2.3% excise tax on medical devices is imposed on sales, not profits, causing lost jobs and slashed research budgets. Worse, it could prevent the next lifesaving breakthrough from reaching patients.

1.
22,000
Estimated medical technology jobs lost due solely to the device tax when it was in effect from 2013 to 2015.

2.
29,000
Actual jobs lost in the device industry from 2013 to 2015 according to Census data.

3.
53,000
Net jobs that could be added if the device tax were repealed permanently.

4.
71%
Number of device companies reporting they would reinstate previously foregone hiring if the tax were repealed.

5.
$2 billion
Estimated cut to company research budgets each year the device tax is in effect.

6.
85%
Number of device companies reporting they would reinstate previously foregone R&D investments if the tax were repealed.

7.
#1
America’s status as a world leader in medical innovation that is at risk if research is stopped and other countries lure away good-paying med tech jobs.

8.
Priceless
Lives that could be saved if medical technology R&D moves forward.

9.
279 
Bipartisan cosponsors of the Protect Medical Innovation Act (H.R. 184), legislation to repeal the medical device tax.

10.
Zero
Good reasons to keep the destructive medical device tax.