When the medical device excise tax was in effect, the med tech industry lost nearly 29,000, or 7.2%, of its jobs, according to an AdvaMed analysis of Department of Commerce figures. The drop occurred between 2012, the year before the tax was enacted, and 2015, when it was suspended in a tax and spending bill.
“These numbers reveal just how devastating of an impact the device tax had on our industry and underscore the urgent need for permanent repeal,” said AdvaMed CEO Scott Whitaker, in a statement. “At a time when American device manufacturers are ready to grow and create jobs, the best message this Congress and the Administration can send is through a full and permanent repeal.”
Image Credit: FierceBiotech