As part of Fiscal Year 2020 Appropriations Legislation, President Donald Trump signed a bill that repealed the medical device tax.
“The government funding bills I just signed into law contain big victories for my Administration and the American people. They enable us to continue to advance our pro-growth, pro-worker, pro-family, America First agenda,” Trump said.
Later, he spoke about the medical device tax.
“We have now also repealed the Obamacare Medical Device Tax, which threatened access to cutting-edge devices that save lives and enhance the quality of life for all Americans. We also eliminated the Obamacare Cadillac Tax, which would have imposed a 40 percent tax on 1 in 5 employers in 2022, ultimately placing severe financial burdens on employees,” Trump said.
The Advanced Medical Technology Association (AdvaMed) President and CEO Scott Whitaker was pleased with President Donald Trump’s signing of legislation to repeal the medical device excise tax.
“This is a great day for American patients, American jobs, and American innovation: The medical device tax is officially history,” Whitaker said. “With the end of this burdensome tax, the U.S. medtech industry can do what it does better than anyone else in the world: develop life-changing innovations that save and improve patients’ lives, and create high-paying, high-tech jobs to keep the American economy booming.”
“We thank President Trump and his administration for their strong support of medical innovation and for their leadership as we worked with Congress to repeal this onerous tax,” he added.