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SCR 1
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S. C. R. No. 1 As Introduced

As Introduced

130th General Assembly

Regular Session

2013-2014

S. C. R. No. 1

Senator Jordan

Cosponsors: Senators Obhof, Schaffer, Bacon, Jones, Seitz, Beagle

A CONCURRENT RESOLUTION

To urge the Congress of the United States and the President of the United States to repeal the new federal excise tax on medical devices.

BE IT RESOLVED BY THE SENATE OF THE STATE OF OHIO
(THE HOUSE OF REPRESENTATIVES CONCURRING):

       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; and

        WHEREAS, The Joint Committee on Taxation estimates that the tax will generate $29 billion in revenue in its first ten years; and

        WHEREAS, The United States is a net exporter in medical devices, exporting $5.4 billion more than it imports, and accounts for 40% of the global medical technology market; and

        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; and

        WHEREAS, The medical device tax will harm the United States' global competitiveness, stunt medical innovation, and restrict the ability of patients to receive the life-saving medical devices and care they need; and

       WHEREAS, The medical device tax is imposed on United States sales, rather than profits, of medical device manufacturers, so will be particularly damaging to innovative start-up companies; now therefore be it

        RESOLVED, That we, the members of the 130th General Assembly of the State of Ohio, on behalf of all citizens of this state, urge the President of the United States and the Congress of the United States to repeal the excise tax on medical devices; and be it further

        RESOLVED, That the Clerk of the Senate transmit duly authenticated copies 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 Ohio Congressional delegation, and the news media of Ohio.