Political Quotes

“Yesterday, the Energy and Commerce Health Subcommittee approved bipartisan legislation to reauthorize and reform the Food and Drug Administration user-fee program. This bill will smooth the process of reviewing medical devices and drugs, increasing transparency and predictability. It's a big step in the right direction for helping American companies continue to lead the world in medical research. Unfortunately, the medical device industry faces a huge setback starting next year. Last week, Senator Toomey and I visited Precision Medical Products in Denver, Pennsylvania. In a roundtable meeting, we heard from a dozen medical device companies about how the new ObamaCare medical device tax will destroy jobs and stall research. This new 2.3 percent tax is on all revenue--and not just profits--meaning even if a company is struggling to break even or even losing money, they have to pay this hefty tax bill. This new tax is over and above the new user fees that they have agreed to pay. Already, some companies have cut back. Yesterday, we took a big step forward. But if this new tax becomes reality next year, we could still lose the edge on medical device equipment. It should be repealed. ____________________”