On the recordJune 7, 2012
I thank the gentleman. Mr. Speaker, Indiana is a global leader in medical device innovation in the United States, providing tens of thousands of high-wage jobs to Hoosiers. There are over 300 medical device manufacturers in the State, many of them small businesses, all working on cutting-edge innovation. Mr. Speaker, we need to preserve what is working in America. The medical device industry is working. In fact, it's helping to save manufacturing in this country, period. One of the biggest threats to the medical device industry is the tax punishing policies put forth by the last Congress and the President of the United States, commonly known as ObamaCare. It will send these manufacturing jobs to other countries so the cost of the tax can be made up. {time} 1330 In addition to sending jobs out of the country, this tax, if not repealed, will only drive up the cost of health care by shifting the costs onto consumers. Medical device jobs provide an average of $60,000 in Indiana alone, which is 56 percent higher than the State average. The economic impact of Indiana's medical device industry eclipses $10 billion, and job growth has increased nearly 40 percent in the last few years. Similar numbers can be applied to the State and across this Nation. The SPEAKER pro tempore. The time of the gentleman has expired.
