Even though the election has been settled, the debate over the medical device tax continues. We have covered this debate in earnest, but thought you might enjoy seeing a recent opinion column in Politico. The column was written by industry leaders who argue that medical device tax will thwart industry innovation and needs to be repealed by Congress.
Some feel that this is a tax on innovation that will ultimately hurt American workers and patients the most. Is their belief justified?
Although the tax does not go into effect until January 1st; the argument exists that the tax is already having a negative impact on the industry. Those in objection to the tax point to announced job cuts and cancelled plants to help pay for the tax.
We have covered many of these arguments in past blogs, but we instead would like to gain your thoughts on some key questions. We want your answers on:
- Do you agree that the tax impacts medical device innovation? If so, please explain why.
- Since the Affordable Care Act is here to stay, what are chances the industry can have the tax overturned?
- What would be an alternative revenue stream that could be offered in place of the tax?
Include the question number and the answer below in the comments section. We’re interested to see what the general consensus is out there regarding the medical device tax and its effects here in the U.S.
Share you thoughts.
Photo Credit: Sum_of_Marc