[Congressional Record Volume 164, Number 126 (Thursday, July 26, 2018)]
[Extensions of Remarks]
[Page E1090]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 PROTECT MEDICAL INNOVATION ACT OF 2017

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                               speech of

                          HON. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                         Tuesday, July 24, 2018

  Ms. McCOLLUM. Mr. Speaker, I rise in opposition to the Protect 
Medical Innovation Act of 2017 (H.R. 184).
  The medical device industry serves a vital role in Minnesota by 
supporting thousands of jobs and providing lifesaving technology.
  Nonetheless, repealing the medical device tax without a fiscal offset 
only intensifies the Republican sabotage of the Affordable Care Act 
(ACA). I represent 700,000 constituents and the majority have made it 
clear the ongoing attacks on the ACA and our healthcare system are 
intolerable. Therefore, I cannot support a tax cut on medical devices 
while the White House and Republicans in Congress continue to cut 
healthcare for millions of Americans, including stripping protections 
for individuals with preexisting conditions.
  The fiscal shortsightedness of this legislation is deeply troubling. 
Like most corporations, medical device companies received billions in 
tax cuts that were completely unpaid for in the recent Republican tax 
overhaul. Repealing the medical device tax would give another tax break 
in excess of $20 billion to these same medical device companies with 
devastating fiscal implications.
  Unfortunately, it has become clear that Republicans plan to cover the 
costs of these deficit-exploding tax measures by forcing drastic cuts 
to Medicare, Medicaid, and Social Security. It is simply unacceptable 
that these already cash-strapped programs will be forced to foot the 
bill for corporate tax cuts. Considering that the Republican tax bill 
eliminated healthcare coverage for 13 million people, we should be 
investing in earned benefit programs now that the need for them is 
greater than ever. Passing yet another unpaid tax break simply makes 
these pending cuts to Medicare, Medicaid, and Social Security all the 
more likely.
  A bipartisan, responsible bill should be drafted that allows the 
medical device sector to continue to innovate and invest without this 
target tax, but any solution needs to be paid for and it should have 
broad support from Republicans and Democrats.

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