Bill Text: IN HCR0051 | 2013 | Regular Session | Introduced

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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

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Introduced Version

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HOUSE CONCURRENT
RESOLUTION No. ________

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DIGEST OF INTRODUCED 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.

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Heuer, Truitt, Hale, Candelaria Reardon

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    _______________________, read first time and referred to Committee on

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Introduced

First Regular Session of the 118th General Assembly (2013)

HOUSE CONCURRENT
RESOLUTION

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        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;

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    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,

Be it resolved by the House of Representatives

of the General Assembly of the State of Indiana,

the Senate concurring:

    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.