[Congressional Record (Bound Edition), Volume 163 (2017), Part 2]
[House]
[Page 1501]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      REPEAL OF MEDICAL DEVICE TAX

  (Mr. BANKS of Indiana asked and was given permission to address the 
House for 1 minute.)
  Mr. BANKS of Indiana. Mr. Speaker, I rise today to urge my colleagues 
on both sides of the aisle to support a permanent repeal of the medical 
device tax.
  The more than 7,000 medical device companies in the United States 
contribute hundreds of billions of dollars to our economy every year, 
employing over 400,000 Americans, and creating lifesaving technologies 
that benefit patients around the world.
  Many of these device manufacturers are based in my district in and 
around Warsaw, Indiana, and we are proud that Warsaw is often called 
the orthopedic capital of the world.
  The vast majority of medical device manufacturers employ fewer than 
50 people, with many generating little to no sales revenue. This is 
what makes the potential reinstatement of the 2.3 percent excise tax on 
medical device sales so harmful. This misguided tax would subject the 
medical device industry to one of the highest corporate tax rates in 
the world and eliminate thousands of jobs.
  Repealing this tax has broad, bipartisan support in both Chambers of 
Congress, and I urge my colleagues to make eliminating this tax a top 
legislative priority in 2017.

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