Congress Votes to Repeal Medical Device Excise Tax
By: Colorado BioScience Association Date: 12/19/2019
This week Congress voted to pass a full and permanent repeal of the medical device excise tax as part of legislation to fund the federal government through the rest of the current fiscal year.
This is a huge victory for the millions of patients who rely on the life-saving and life-changing technologies developed by our industry and the leaders and employees of Colorado companies who work tirelessly to drive global health innovations, products, and services that improve and save lives.
Colorado BioScience Association applauds the repeal of the medical device tax and thanks all the Members of Congress who voted to end this costly tax on innovation. We also thank our members and partners who have advocated with us for years to end this punitive policy. Colorado companies are developing life-changing innovations, and today’s vote is a tremendous step in advancing medical breakthroughs in our state and across the country. Now our ecosystem will have the ability to grow operations and reinvest in the cutting-edge R&D that will lead to the treatments of tomorrow.
Thank you for your continued engagement and support on this critical issue.