AdvaMed, MDMA, and MITA are joining forces to push for a repeal of the medical device excise tax provision. The trade associations are hosting a two-day multi-pronged nationwide effort to repeal the tax, which includes an ad campaign, online press conference hosted via Twitter, a CEO fly-in, and a 12-hour tweet-up. Among the executives taking part in the event are Dan Moore of Cyberonics; Don Fowler of Toshiba America Medical Systems; Rob Cascella of Hologic; Caroll H. Neubauer of B.Braun Medical Inc.; and Steve Ferguson of the Cook Group.
The medical device tax stands to cost medtech and imaging firms $30 billion over the next decade. Poised to go into effect in January 2013, the 2.3% excise tax would be levied on device companies’ sales rather than profits. The tax would be paid even if the devices are sold at a loss.
To bring attention to the issue, on November 14, at 12:30 EST AdvaMed and MDMA have arranged an online press conference via Twitter with moderator Brian Buntz (@brian_buntz), editor-at-large of MD+DI. The event can be followed on Twitter using the #repealdevicetax hashtag.
On November 15, 52 medtech CEOs across the United States will fly in from states across the country, including those with large medtech hubs such as California, Massachusetts, Indiana, and Minnesota. “It is a joint effort with the three trade associations and we are going to the Hill to make our case and make sure that people understand the urgency to repeal the device tax because it goes into effect on January 1,” says Wanda Moebius, vice president, policy communications at AdvaMed.
“We have always said that repealing the device tax was a down-payment on overall tax reform. But our goal for the fly-in is to push for a repeal of the device tax and, if that is part of tax reform but part of a lame duck effort, or whatever legislative vehicle occurs, that is what we are pushing for,” Moebius says.
In conjunction with the fly-in, starting at 9 a.m. EST, AdvaMed and MDMA will host a 12 hour tweet-up using the #repealdevicetax hashtag.