• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    Deep (Brain) Thoughts with Medtronic's Neuromodulation President

    Grab and Go: Examining the Thrombectomy Device Market

    Fine Print: A Discourse on Additive Manufacturing

    MPO's 2022 Medtech Industry Year in Review

    Micro Molding for Medtech Is Miniature Magic
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    CARMAT Resumes Commercial Artificial Heart Implants

    Junkosha Plans New Facility in Kasama, Japan

    Philips-Medisize Introduces Disposable Pen Injector

    Japanese Universities Start Joint Trials for Fall Detection Tech

    FDA Clears H2o Therapeutics' Parkinson's Disease Monitoring App
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    Deep (Brain) Thoughts with Medtronic's Neuromodulation President

    Grab and Go: Examining the Thrombectomy Device Market

    Fine Print: A Discourse on Additive Manufacturing

    MPO's 2022 Medtech Industry Year in Review

    Micro Molding for Medtech Is Miniature Magic
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Reflections on 2022 and What’s Ahead for Medtech: MPO Sounding Board

    3 Ways to Prepare for ISO 13485/Part 820 Harmonization

    A New Home for Theranos' Elizabeth Holmes?

    Health Cost Drivers for Large Employers

    Braving Change: Facing Fears in the Midst of Major Transitions
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    Paragon Medical

    Fusion Biotec Inc.

    Providence Enterprise USA Inc.

    NDH Medical Inc.

    Arthur G. Russell Co. Inc., The
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    How Artificial Intelligence Can Combat Key Issues Impacting Healthcare

    Why Advanced Sensors Are Crucial Within Medical Pumps

    How Artificial Intelligence Could Help Prevent 80% of Chronic Diseases

    4 Ways to Use Injection Molding in Medical Device Manufacturing

    Telemedicine and Connectivity to Drive Material Innovation in the Near Future
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    Paragon Medical

    Fusion Biotec Inc.

    Providence Enterprise USA Inc.

    NDH Medical Inc.

    Arthur G. Russell Co. Inc., The
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Breaking News

    Medical Device Tax Risks U.S. Global Competitiveness, Report Concludes

    The 2.3 percent levy is scheduled to take effect Jan. 1 barring intervention from lawmakers.

     Medical Device Tax Risks U.S. Global Competitiveness, Report Concludes
    Related Content
    • Think Chinese Tariffs Are the Only Industry Job Killers? Think Again
    • Diversity, Inclusion, and Innovation at The MedTech Conference
    • MPO Summit 2019 Conference Program Notebook
    • Coalition Urges Congress to Repeal Device Tax
    • Update on Integrated Delivery Networks and Physician Employment
    Advanced Medical Technology Association10.04.19
    A recent report from the Tax Foundation shows an improving tax environment for U.S businesses and individuals, as the nation's "tax competitiveness" ranking rose to 21st place among developed countries in 2018 vs. 28th place in 2017. 
     
    That progress is threatened by the return in January of the 2.3 percent medical device excise tax, which risks the continued growth of one of America's most dynamic and globally competitive industries. 
     
    "We cannot allow this onerous tax to come back," said Scott Whitaker, president and CEO of the Advanced Medical Technology Association (AdvaMed). "We've said all along this is bad tax policy, bad health policy, and bad for patients and innovation. And a bipartisan majority in both the House and Senate agrees. We've got the votes to end this tax once and for all; we need Congress to act." 
     
    Although the device tax has been suspended since 2016, if Congress does not act by the end of the year it will be back in force and with it a $20 billion tax increase on the industry. While the tax was in effect from 2013-2015, the medtech industry shed nearly 29,000 U.S. jobs and had to cut back dramatically on R&D and other infrastructure spending. 
     
    The Tax Foundation credits the 2017 tax reform legislation with the improvement in the U.S. competitiveness ranking. However, any benefit from tax reform would be wiped out for the medical technology industry should the excise tax return. According to a study from E&Y, the industry is estimated to receive a $9.9 billion decrease in federal income tax liability over the 2018-27 period from tax reform. But this would be offset by the approximately $16.7 billion in additional tax liability for the same period if the tax came back.  
    Related Searches
    • congress
    • innovation
    • medical
    • ceo
    Suggested For You
    Think Chinese Tariffs Are the Only Industry Job Killers? Think Again Think Chinese Tariffs Are the Only Industry Job Killers? Think Again
    Diversity, Inclusion, and Innovation at The MedTech Conference Diversity, Inclusion, and Innovation at The MedTech Conference
    MPO Summit 2019 Conference Program Notebook MPO Summit 2019 Conference Program Notebook
    Coalition Urges Congress to Repeal Device Tax Coalition Urges Congress to Repeal Device Tax
    Update on Integrated Delivery Networks and Physician Employment Update on Integrated Delivery Networks and Physician Employment
    Innovative Health Receives FDA Clearance to Reprocess the Webster Duo-Decapolar EP Catheter Innovative Health Receives FDA Clearance to Reprocess the Webster Duo-Decapolar EP Catheter
    ELITONE Device Launched for Women’s Incontinence ELITONE Device Launched for Women’s Incontinence
    Innovative Health Partners with Northeast Scientific Innovative Health Partners with Northeast Scientific
    CarThera Appoints Board Chairman CarThera Appoints Board Chairman
    Mobile App Notifies Patients, Caregivers, and Nurses of Medical Device Recalls Mobile App Notifies Patients, Caregivers, and Nurses of Medical Device Recalls
    Eon FR Receives FDA Clearance Eon FR Receives FDA Clearance
    FDA Shares Progress on Efforts to Increase Transparency in Medical Device Reporting FDA Shares Progress on Efforts to Increase Transparency in Medical Device Reporting
    MDMA Survey Highlights Damage of Device Tax Reinstatement to Innovation and Jobs MDMA Survey Highlights Damage of Device Tax Reinstatement to Innovation and Jobs
    Factory-CRO Group Bolsters Leadership Team Factory-CRO Group Bolsters Leadership Team
    Medical Device Legislative and Regulatory Policy: A Spring Update Medical Device Legislative and Regulatory Policy: A Spring Update

    Related Columns

    • Think Chinese Tariffs Are the Only Industry Job Killers? Think Again

      Think Chinese Tariffs Are the Only Industry Job Killers? Think Again

      One of the latest concerns—arising from an old issue—is the medical device tax, which could return next year without legislative intervention before then.
      Florence Joffroy-Black and Dave Sheppard, MedWorld Advisors 10.08.19

    • Diversity, Inclusion, and Innovation at The MedTech Conference

      Diversity, Inclusion, and Innovation at The MedTech Conference

      This year’s MedTech Conference celebrated several themes, including a need for diversity, the evolution of innovation, and the changing regulatory environment.
      Sean Fenske, Editor-in-Chief 10.08.19

    • MPO Summit 2019 Conference Program Notebook

      MPO Summit 2019 Conference Program Notebook

      An ongoing update of MPO Summit 2019 sessions.
      Michael Barbella, Managing Editor 10.03.19


    • Coalition Urges Congress to Repeal Device Tax

      Coalition Urges Congress to Repeal Device Tax

      MDMA, AdvaMed, MITA, and a broad coalition of stakeholders sent letter to Capital Hill seeking permanent repeal.
      Medical Device Manufacturers Association 09.25.19

    • Update on Integrated Delivery Networks and Physician Employment

      Update on Integrated Delivery Networks and Physician Employment

      The top five IDNs employ 135,913 MDs and DOs in the U.S., approximately 15 percent of all active physicians in the country.
      Maria Shepherd, President and Founder, Medi-Vantage 09.06.19

    Loading, Please Wait..

    Trending
    • The Future Of Biomedical Engineering Advancements
    • Medtronic's Recall Of Mahurkar Catheters Is Class I
    • Cirtec Medical Corporation Acquires Precision Components Business From QMD
    • Environmental Sustainability Becoming Increasingly Important To Medtech Industry
    • 5 Ways Plastics Revolutionized The Healthcare Industry
    Breaking News
    • Study: Smartphone Therapeutic Helps Improve Fibromyalgia in Patients
    • Sightpath Medical Acquires Accusite Surgical
    • Sissel Lønning Andresen Named LINK Medical CEO
    • CARMAT Resumes Commercial Artificial Heart Implants
    • Junkosha Plans New Facility in Kasama, Japan
    View Breaking News >
    CURRENT ISSUE

    November 2022

    • MPO's 2022 Year in Review
    • Fine Print: A Discourse on Additive Manufacturing
    • Grab and Go: Examining the Thrombectomy Device Market
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Aspire Hires Darrec Jones as VP of Business Development
    Pycnogenol Supplementation Linked to Better Hair Density in Menopausal Women
    BAPP Paper Reviews Common Adulteration Practices Which Go Undetected
    Coatings World

    Latest Breaking News From Coatings World

    ROSS Offers Heavy-Duty Three Roll Mills for High Viscosity Dispersions
    PPG Achieves ISO 14001 Certification of Environmental Management System
    AmCoat’s Rhino Shield and Floor Shield Break Records in 2022
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    CARMAT Resumes Commercial Artificial Heart Implants
    Junkosha Plans New Facility in Kasama, Japan
    Philips-Medisize Introduces Disposable Pen Injector
    Contract Pharma

    Latest Breaking News From Contract Pharma

    BioNTech SE Completes Proprietary Plasmid DNA Manufacturing Facility in Marburg, Germany
    Dragonfly Therapeutics Appoints Joseph Eid as President of Research & Development
    CARBOGEN AMCIS Opens Sterile Liquid Drug Product Mfg. Facility in France
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    e.l.f. Beauty Net Sales Grow 49% in Third Quarter of 2023
    DOVE Introduces ‘Next-Gen’ Body Wash in Sleek New Sustainable Bottle
    Ariana Grande Agrees to Purchase Assets Tied to r.e.m. beauty from Forma Brands
    Happi

    Latest Breaking News From Happi

    CVS Introduces New Beauty, Personal Care Brand One+Other
    Sharon Personal Care Expands Green Product Portfolio and Formulation Capabilities
    Ecolab Enters Consumer Retail with New Ecolab Scientific Clean Brand at Home Depot
    Ink World

    Latest Breaking News From Ink World

    International Paper Named to Fortune's List of World's Most Admired Companies
    Flint Group Launches Sustainable UV LED Dual Cure Ink
    Smurfit Kappa's Sustainable Solutions Take Home Eight WorldStar Awards
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    PPC Flexible Packaging acquires Israel-based StePac, MAPfresh Holdings
    Flint Group launches sustainable UV LED dual cure ink
    KB Folie invests in first ThermoFlexX imager
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Qvin Menstrual Blood Diagnostic Device Receives FDA Approval in Thailand
    Andritz, KCF Technologies Form Agreement
    Freudenberg e-Power Systems, LG Energy Solution Announce Partnership
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Adrian Tyndall Joins Axogen's Board of Directors
    ADSM-Synchro Medical Acquired by Tyber Medical
    Solid Growth Ahead for Orthopedic Power Tools Market
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Infineon Concludes Very Profitable 1Q 2023
    LOPEC 2023: Here are the Highlights for Printed Electronics
    Employee-Led Giving at ORNL Provides $937,000 to Area Nonprofits in 2022

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login