Proposed Tax Legislation Promotes Medtech Industry Growth

Rep. Melissa Hart (R-PA) recently introduced HR 5115, titled the U.S. Healthcare Technologies Competitiveness Act. This legislation seeks to modernize the tax code so that biotechnology and medical device companies can more easily attract and access capital, while making necessary investments in R&D, equipment and innovation. The bill will modernize the tax laws both in the corporate and investor area and eliminate disincentives that inhibit investment in medical technology companies with the intent to keep America competitive in the global arena. "MDMA supports Rep. Hart's efforts to reform the tax code to make it easier for innovative, entrepreneurial medical device companies to attract the much-needed funding to develop and bring new technology to market," said MDMA Executive Director Mark Leahey. "Helping these companies develop the next-generation products will ultimately improve healthcare for all Americans. We look forward to working with Congress to ensure quick passage of this legislation."