Jose Luis Correa: “First of all, I want to say I represent the Golden State of California, and I am proud to say that California was the…”

“First of all, I want to say I represent the Golden State of California, and I am proud to say that California was the first State in the Union to implement, to accept the Affordable Care Act a number of years ago, and when we did so, we knew it was a work in progress. After all, Medicare continues to be a work in progress after 60 years. One of those areas we knew we had to change was the medical device tax. In California, there are over 1,000 medical technology companies, many of which are small to medium, that employ more than 70,000 Californians. Many of those live and work in my district, and these are good-paying middle class jobs. The research and development of groundbreaking medical technology helps improve patient care and treatments not only for Americans, but for folks throughout the world. In recognition of the medical tax device's negative impact on innovation and investment, Congress delayed its implementation on two separate occasions. Unfortunately, the temporary suspension of this tax is scheduled to expire at the end of this year. If reinstated, this tax will impede future investments and domestic innovation and restrain hiring and job growth. Since research and development in this area of technology takes a number of years, the uncertainty about the future of this tax will delay essential research and development and growth in many areas of the State of California.…”