Boston Scientific Applauds U.S. Medical Device Tax Suspension, Looks Ahead Toward Repeal
Jan 24, 2018
Boston Scientific commends the efforts of key champions in the U.S. House and Senate for their successful efforts to suspend the medical device tax, allowing the device industry to reinvest in work to benefit patients.
Specifically, U.S. Representatives Erik Paulsen (R-MN), Jackie Walorski (R-IN), Jim Banks (R-IN), Larry Bucshon (R-IN), Tom Emmer (R-MN), Richard Neal (D-MA), Ron Kind (D-WI), Scott Peters (D-CA), and Suzan DelBene (D-WA) and Senators Orrin Hatch (R-UT), Todd Young (R-IN), Pat Toomey (R-PA), Amy Klobuchar (D-MN) and Joe Donnelly (D-IN) were instrumental in the device tax suspension.
“We applaud the U.S. House and Senate for suspending the medical device tax,” said Mike Mahoney, chairman and chief executive officer, Boston Scientific. “The suspension allows us to continue our plans for investing in more innovative, life-changing medical products while we work toward full repeal.”
Introduced in 2013 as part of the Affordable Care Act, the 2.3 percent medical device excise tax was imposed on revenue. When Congress approved a two-year suspension in 2015, Boston Scientific leveraged savings to reinvest in research and development. Through several innovative projects with leading medical facilities, Boston Scientific has been able to combine our manufacturing expertise with novel ideas from physicians to develop products that address unmet clinical needs.
Boston Scientific will continue to advocate for permanent repeal of the medical device tax in appropriate legislative vehicles.