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Would repealing the medical device tax create jobs?

A Medical Device Manufacturers Association survey has new insight into the consequences of the tax being repealed.

If the medical device tax was repealed, a majority of medical technology innovators would increase hiring and make new investments in research and development, according to results from a new survey conducted by the Medical Device Manufacturers Association.

According to the survey, 85% of respondents said that if the device tax was repealed, they would hire new employees in the U.S., while 80% of respondents noted that they would increase R&D investments in the cures and therapies of tomorrow.

In addition, 72% of companies slowed or halted job creation in the United States to pay the medical device tax, according to the survey.

β€œI see firsthand everyday the impact the medical device tax has on investing in new jobs and developing new technologies that improve patient care,” said Scott Huennekens, President & CEO, Volcano Corporation and Chairman of MDMA. β€œThis survey clearly shows what med tech innovators have long argued: if you repeal the medical device tax, it will boost job creation and increase investments in the cures and therapies of tomorrow.”

The medical device tax has been a hot-button issue since it was put into effect. The repeal of it took new life when the Republican took control of Congress this year.

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