The senators’ bill, called the Protect Medical Innovation Act, aims to end the 2.3 percent excise tax, claiming it negatively affects a broad array of medical devices.
Congress has suspended the tax twice since it went into effect in January 2013. The most recent suspension will expire at the end of 2019, according to the report.
Mr. Toomey said in a statement obtained by The Times that the medical device tax “threatens patients, American jobs and medical innovation. It’s time to end this uncertainty once and for all and finally repeal the medical device tax. I urge my colleagues to join this bipartisan effort.”
The statement also added that when the tax was in effect between January 2013 and December 2015, the industry lost 29,000 jobs, according to the report.
Ms. Klobuchar, who announced her 2020 presidential candidacy earlier this year, has voiced support for the bill, along with 18 other co-sponsors as of March 8.
To access the full report, click here.
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