Weekly Policy Update: House Repeals Medical Device Tax
By: Colorado BioScience Association Date: 07/27/2018
On behalf of Colorado BioScience Association thank you for your efforts to secure a yes vote on H.R. 184 – Protect Medical Innovation Act of 2017. We appreciate the time you took to advocate to your representative on the importance of a permanent repeal of the medical device tax credit. In part due to your efforts, this week the U.S. House of Representatives passed H.R. 184, the standalone legislation which permanently repeals the medical device excise tax.
Thank you to Congressman Buck, Congressman Coffman, Congressman Lamborn, Congressman Polis, Congressman Tipton who all supported and/or joined on as co-sponsors of important piece of legislation. This continues to be a top priority for CBSA and Colorado’s medtech innovators. The passage of this legislation will ultimately provide long term stability and certainty for our sector, supporting our companies, the industry, jobs and new innovations for patients. We are pleased to see the passage and will continue to advocate as the legislation moves to the Senate.
The overwhelming, bipartisan support for full repeal medical device tax sends a strong message that lawmakers recognize this tax is not good health nor good fiscal policy. We know a significant majority of the Senate feels the same way, and we look forward working closely with Senator Bennet and Senator Gardner to quickly take up this measure and ensure the medical technology industry continues to bring innovation to patient care in Colorado. We will continue to keep you updated on our advocacy efforts. If you are interested in getting engaged, please contact CBSA Vice President Jennifer Jones.
COLORADO REGENERATIVE MEDICINE ROUNDTABLE
Reminder, we are convening the Colorado Regenerative Medicine Roundtable on August 13th. We host these roundtables with the University of Colorado Gates Center for Regenerative Medicine, regenerative medicine companies and partners. The goal of this roundtable is to initiate a process and define a ‘legislative ask’ related to regenerative medicine on behalf of the Colorado Life Science industry. For more information or to attend please contact Jennifer Jones.