Sinema: Medical device tax hinders innovation
WASHINGTON – Arizona senior Senator Kyrsten Sinema today introduced the bipartisan Protect Medical Innovation Act—legislation to protect Arizona manufacturers by permanently repealing the 2.3 percent excise tax on medical devices.
“Arizona’s manufacturers want to grow and create new jobs, but the misguided medical device tax hinders innovation,” said Sinema. “Our bipartisan bill is a commonsense solution encouraging job-growth and expanding access to life-saving technology.”
The Protect Medical Innovation Act permanently repeals the 2.3 percent excise tax on medical devices, such as surgical tools, pacemakers, and artificial joints. This tax disproportionately impacts small companies and constrains manufacturers’ ability to innovate and create new jobs. Medical technology supports 17,000 jobs and contributes $3 billion to Arizona’s economy.
Sinema championed the Protect Medical Innovation Act while serving in the House, ensuring it passed with broad bipartisan support.