Bill Text: IN HCR0051 | 2013 | Regular Session | Introduced
Bill Title: Urging Congress to repeal the new federal excise tax on medical devices.
Spectrum: Moderate Partisan Bill (Republican 66-20)
Status: (Passed) 2013-04-24 - Senator Hershman added as cosponsor [HCR0051 Detail]
Download: Indiana-2013-HCR0051-Introduced.html
RESOLUTION No. ________
A CONCURRENT RESOLUTION urging the Congress of the United States and the President of the United States to repeal the new federal excise tax on medical devices.
_______________________, read first time and referred to Committee on
RESOLUTION
A CONCURRENT RESOLUTION urging the Congress of the
United States and the President of the United States to repeal the new
federal excise tax on medical devices.
Whereas, A new 2.3% federal excise tax on the sale of
taxable medical devices by manufacturers, producers, and
importers of such devices took effect on January 1, 2013;
Whereas, The Joint Committee on Taxation estimates that
the tax will generate $29 billion in revenue in its first ten
years;
Whereas, The United States is a net exporter of medical
devices, exporting $5.4 billion more than it imports, and
accounts for 40% of the global medical technology market;
Whereas, A study completed by the Manhattan Institute
found that the medical device tax will almost double the
medical device industry's total tax bill and could result in the
loss of up to 43,000 jobs in the medical technology industry;
Whereas, The medical device tax will harm the United
States' global competitiveness, impede medical innovation,
and restrict the ability of patients to receive the life-saving
medical devices and care that they need;
Whereas, The medical device tax is imposed on United States sales, rather than profits, of medical device manufacturers, so it will be particularly damaging to innovative start-up companies;
Whereas, Indiana's medical device industry is one of our state's most valuable economic assets, driving a $44 billion life sciences cluster, distributed across the state, and has made Indiana a nationally recognized leader in the health care sector;
Whereas, The industry in Indiana employs more than
26,000 people with another 35,000 jobs indirectly attributed
to the medical device industry;
Whereas, Indiana is the fifth largest state in our nation in
percentage of medical technology industry employment; and
Whereas, The Legislative Services Agency estimates that
the state's medical device companies will be charged a
minimum of $77 million in excise taxes annually: Therefore,
SECTION 1. That the Indiana General Assembly, on behalf of all
citizens of this state, urges the President of the United States and the
Congress of the United States to repeal the excise tax on medical
devices.
SECTION 2. That the Principal Clerk of the House of
Representatives transmit a copy of this resolution to the President of
the United States, the President Pro Tempore and Secretary of the
United States Senate, the Speaker and Clerk of the United States House
of Representatives, each member of the Indiana Congressional
delegation, and the Indiana news media.
