Mr. Speaker, as we continue to debate health care we must remain cognizant of the impact on both jobs and health care innovation.
That’s why I strongly oppose the new $40 billion dollar innovation tax on the medical device industry that’s being proposed in the Senate.
Minnesota – and the Third Congressional District in particular – is home to many of the top medical device manufacturers responsible for life-saving technologies. Hundreds of small businesses and entrepreneurs in the medical technology field also call Minnesota home.
I have visited and met with many of these entrepreneurs. They are hard-working. They’re employers that provide tens of thousands of good-paying jobs for Minnesotans.
Moreover, these medical breakthroughs save money and improve the quality of care.
A massive new tax increase will stifle job growth, it’ll stifle innovation and it’ll ultimately harm quality health care.
I strongly urge the Senate, the President, and my colleagues to oppose this misguided new tax.