Erik Paulsen: “Thank you, Mr. Speaker. For the next few minutes, some of us who are members of the Medical Technology Caucus are going…”

“Thank you, Mr. Speaker. For the next few minutes, some of us who are members of the Medical Technology Caucus are going to share some of our thoughts about some of the recent troubling developments that are threatening this American industry. I will tell you, as cochair of the Medical Technology Caucus, in Minnesota, I get a chance to tour these companies. We all know the big names of the big titan companies; but nearly every week, I get a chance to tour one of these small companies that might have five employees, that might have 10 employees--companies that are not yet profitable. They're working on these really innovative and neat technologies that are there to help patients improve their lives and save their lives. In fact, Mr. Speaker, from 1980 to 2000, the medical technology firms were responsible for a 4 percent increase in U.S. life expectancy, a 16 percent decrease in mortality rates, and also an astounding 25 percent decline in elderly disability rates. I think, as we'll hear from some of our colleagues, particularly from the Indiana delegation, which is where we were just about a week and a half ago, we're learning there are some new hurdles on the horizon. Number one, there is a medical device tax that will be imposed in just a little over a year. It's a $20 billion tax, and studies have shown it's going to cost the industry about 10 percent of their workforce. It's about 43,000 jobs that will be at risk.…”