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Conrad

Protect Medical Innovation Act of 2017

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Mr Saunders for himself introduces... with thanks to , Mr Donnelly, Mr Thomas and Mr Paulsen...

 

A BILL

 

To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.

 

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

 

SECTION 1. SHORT TITLE.

 

This Act may be cited as the “Protect Medical Innovation Act of 2017”.

 

SEC. 2. REPEAL OF MEDICAL DEVICE EXCISE TAX.

 

(a) In General.—Chapter 32 of the Internal Revenue Code of 1986 is amended by striking subchapter E.

(b) Conforming Amendments.—

(1) Subsection (a) of section 4221 of such Code is amended by striking the last sentence.

(2) Paragraph (2) of section 6416(b) of such Code is amended by striking the last sentence.

(c) Clerical Amendment.—The table of subchapters for chapter 32 of such Code is amended by striking the item relating to subchapter E.

(d) Effective Date.—The amendments made by this section shall apply to sales after December 31, 2018.


 

Quote

 

PES:

 

This bill amends the Internal Revenue Code to repeal the excise tax on the sale of a medical device by the manufacturer, producer, or importer.

 

 

Edited by Conrad

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We will now debate this piece of legislation. Debate will last till cloture is invoked

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Mr President,

 

I move for passage via UC

 

I yield

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Mr.President,

 

I would like to have a friendly debate on the excise tax and possibly come up with new solutions.

 

I Yield

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Mr President,

 

Objection to this bill means that you support higher costs for crucial medical devices such as pacemakers, heart valves and artificial hips. The tax imposed by this is often passed to the patient. Why should US medical device creators continue to innovate if they will just be taxed for it, it is complete folly to think that they will continue to operate and thrive under this climate. 

 

There are about 9,000 medical device companies representing almost 550,000 jobs in the United States with a sales number of $150,000,000,000. 

 

I am sorry, but this tax is regressive on medical innovation and advancement and the Senate ought to come around and agree that a repeal of this tax will be the best option. It is sad to see the Gentleman from New York object to unanimous consent, he must support higher prices for crucial medical equipment.

 

I yield.

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Mr.President,

 

As a deliberative body that must work together on issues and especially on such a divisive issue, I believe that it important that we work together to find solutions and alternatives other than trying to ram this legislation through Congress. For that reason I will oppose cloture. 

 

I Yield

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Mr President

 

The gentleman talks about the need for debate but has not offered any substantive remarks about the legislation, so therefore I will continue to believe that he supports higher prices for important medical equipment.

 

I yield

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Mr.President,

 

I am currently welcoming debate and would like to hear from my colleagues from across the aisle. I would, however, like to ask my friend from Texas on whether he has any alternatives on how we can replace the excise tax and possibly put in place a new system that is more equitable.

 

I Yield

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Mr.President,

 

Before giving any support to this bill, I will like to know what are its costs and what are the projected effects that may be imposed on our health care system and  American citizen if this legislation is enacted.

 

I Yield

 

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Mr. President, 

 

I second the motion for cloture. 

 

I yield. 

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I will be ending debate on this legislation and ending the vote for cloture. This bill has already been enacted Job Creation and Economic Growth Act in Section 104. As this legislation adds nothing new to the repeal that passed before, I will be removing this bill from the docket and Invite the Senate Minority Leader to docket a new bill.

 

Job Creation and Economic Growth Act

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