Congressman Larry Bucshon Applauds Passage of Health Care Cost Reduction Act
(Washington, D.C.) – Congressman Larry Bucshon (IN-08) released the following comment in regards to the passage of H.R. 436, Health Care Cost Reduction Act of 2012 by a vote of 270-146.
Congressman Bucshon (IN-08) states:
“I am proud to have voted to repeal another provision of Obamacare. This critical industry, necessary to the well-being of our citizens, should not face tax hikes in order to pay for the President’s government takeover of health care. This tax increase would stifle innovation and leave many patients unable to receive the treatments they need. The medical device industry is crucial to Indiana’s economy and raising taxes on job creators would have a negative impact on the future for Hoosiers.”
Boston Scientific CEO Hank Kucheman states:
“The medical device industry employs more than 20,000 people in Indiana including several thousand in the 8th Congressional District. Boston Scientific, which manufactures life-saving technologies in Spencer, IN, applauds Rep. Larry Bucshon’s vote to repeal the $30B tax on medical technology included in the Affordable Care Act. Doctor Bucshon has first-hand experience of how these products make a difference in the lives of patients and play an important role in Indiana’s economy. We thank him for his leadership role in passing H.R. 436, the Health Care Cost Reduction Act.”
Steve Ferguson, Chairman of Cook Group, Inc states:
“We are pleased that the U.S. House of Representatives has acted with a bipartisan vote to repeal the onerous device tax and hope that the U.S. Senate will quickly follow in a bipartisan manner. This tax will lead to U.S. technology and jobs being relocated outside the U.S., the loss of future jobs that come with innovations being located outside the U.S., and delays in the latest medical innovations being available to American patients. Americans want their critical devices manufactured in the U.S. and to have access to the latest medical technologies.”
H.R. 436, the Health Care Cost Reduction Act of 2012, repeals the excise tax placed on the medical device industry in the Patient Protection and Affordable Care Act (PPACA), commonly referred to as Obamacare. This tax is set to take effect in 2013.
There are over 300 medical device companies in Indiana, supporting over 20,000 Hoosier jobs directly and 28,000 secondary jobs.