Political Quotes

“I thank my colleague from New York for joining us this evening. I appreciate her insight. I just want to say a couple more things about this tax that she mentioned on medical device manufacturers. You know, in my district as well, we have a couple of companies that make the drills for orthopedic surgeons where they put in the screws and that sort of thing. This tax is, I think it's a 2.3 percent tax, not on their profits, but on their gross. So even a small startup company that's trying to innovate, which we have in my district, and create a new device that will help people with care, even if they're losing money, they have to pay the tax on any gross receipts they have. That, to me, is like the most regressive part of that tax. Besides that, it's forcing our medical innovators to move their companies overseas. I mean, you know, people aren't stupid. They realize that if they're going to be taxed here in this country even though they're losing money, they're going to move that manufacturing capability to Europe, and that's already been happening. So this law is taking the medical innovators in this country--and everyone knows this country has been leading the way in the world in medical innovation for the last hundred years. It's forcing those people to go overseas to do business. That's not good for America. That's taking highly skilled people and asking them to go somewhere else to do business because we have a bad climate for that.…”