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MDMA Statement on IRS Proposed Regulations for the Medical Device Tax

Friday, February 3, 2012  
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WASHINGTON, DC – Mark Leahey, President and CEO of the Medical Device Manufacturers Association (MDMA), issued the following statement regarding the Internal Revenue Service’s (IRS) proposed regulations for businesses impacted by the 2.3% medical device excise tax:

"The complexities and unanswered questions in the IRS’ proposed regulations show just how important it is to repeal the onerous medical device tax. It is a tax on innovation that is already eliminating jobs in this vibrant industry, and will thwart efforts to improve patient care when we can least afford it.

"America’s job creators are being asked to be innovative, support manufacturing and increase exports. The medical device industry is answering all three challenges, but the device tax threatens our global leadership. The time to repeal this job-killing tax is now.”