Rep. Dan Maffei states: "The bill's offset for the repeal of the medical device excise tax repeals three costly tax incentives that subsidize the big major integrated oil companies (Exxon-Mobil, Chevron, Shell, and BP) to produce oil--something they would be doing anyway."
Reaction from an industry lobby group to the Medical Device Tax Elimination Act was positive.
"MedTech fully supports any and all efforts to repeal the new, nearly $30 billion tax on medical devices," said Jessica Crawford, President of MedTech. "This tax is damaging a highly innovative industry that creates jobs and fuels this country's economic growth. Repealing the medical device tax will ensure that device makers can continue developing lifesaving medical treatments for patients all over the country, and it will save jobs in every state. By introducing this bill, Congressman Maffei shows the kind of leadership that more policymakers would do well to emulate."
Medical device manufacturer Welch Allyn is in Rep. Maffei's district and blamed the excise tax for a 10% layoff in its workforce, including 45 at its headquarters in Skaneateles Falls, NY.