California Life Sciences Association Applauds Reintroduction Of Bill To Fully Repeal Medical Device Tax, Spur Medical Innovation

WASHINGTON & SAN FRANCISCO--(BUSINESS WIRE)--California Life Sciences Association (CLSA), the premier statewide public policy and business leadership organization representing California’s leading life sciences innovators, issued the following statement praising the reintroduction of bipartisan legislation that fully repeals the 2.3 percent excise tax levied on medical device firms as part of the Affordable Care Act. This statement can be attributed to CLSA President & CEO Sara Radcliffe:

“California Life Sciences Association (CLSA) applauds the reintroduction of legislation to permanently repeal the ill-conceived 2.3 percent medical device tax, which could further hamper innovation and investment in medical technology research and development, if not fully rescinded.”

“California Life Sciences Association (CLSA) applauds the reintroduction of legislation to permanently repeal the ill-conceived 2.3 percent medical device tax, which could further hamper innovation and investment in medical technology research and development, if not fully rescinded.

“California is home to more than 1,700 medical device firms, more than any other state in the nation, employing nearly 75,000 people, making the impact of the tax on our state particularly troublesome. While the tax is currently suspended, fully scrapping the medical device tax will help ensure that the U.S. does not jeopardize our position as a global leader in medical technology innovation.

“With over 220 Republican and Democratic cosponsors, a majority of the House of Representatives, the Protect Medical Innovation Act of 2017 is a common-sense solution we can all agree on that will rescind this ill-conceived tax. We thank Reps. Erik Paulsen (R-Minn.), Ron Kind (D-Wisc.) and the 21 bipartisan members of California’s congressional delegation for supporting this critically important bill.”

Members of the California Congressional Delegation Supporting the Protect Medical Innovation Act of 2017:

Rep. Pete Aguilar (D-Redlands), Rep. Ami Bera (D-Sacramento), Rep. Julia Brownley (D-Thousand Oaks), Rep. Ken Calvert (R-Corona), Rep. Paul Cook (R-Apple Valley), Rep. Lou Correa (D-Santa Ana), Rep. Jeff Denham (R-Modesto), Rep. Duncan Hunter (R-Temecula), Rep. Darrell Issa (R-Vista), Rep. Ro Khanna (D-Fremont), Rep. Steve Knight (R-Simi Valley), Rep. Doug LaMalfa (R-Redding), Rep. Tom McClintock (R-Roseville), Rep. Devin Nunes (R-Clovis), Rep. Scott Peters (D-La Jolla), Rep. Dana Rohrabacher (R-Huntington Beach), Rep. Ed Royce (R-Brea), Rep. Jackie Speier (D-Menlo Park), Rep. Eric Swalwell (D-Pleasanton), Rep. David Valadao (R-Bakersfield) and Rep. Mimi Walters (R-Irvine).

To learn more about California’s life sciences industry, visit www.CALifeSciencesIndustry.com.

About California Life Sciences Association (CLSA)

California Life Sciences Association (CLSA) is the state’s largest and most influential life sciences advocacy and business leadership organization. With offices in Sacramento, San Diego, South San Francisco, Los Angeles and Washington DC, CLSA works closely with industry, government, academia and others to shape public policy, improve access to innovative technologies and grow California’s life sciences economy. CLSA serves biotechnology, pharmaceutical, medical device and diagnostics companies, research universities and institutes, investors and service providers throughout the Golden State. CLSA was founded in 2015 when the Bay Area Bioscience Association (BayBio) and the California Healthcare Institute (CHI) merged. Visit CLSA at www.califesciences.org, and follow us on Twitter @CALifeSciences, Facebook, Instagram, LinkedIn and YouTube.