Paulsen Highlights Burden of Medical Device Tax on Small Business
Wednesday, April 15, 2015
Congressman Erik Paulsen (MN-03) questioned a witness at a Joint Economic Committee hearing on the negative effects that the medical device tax is having on small businesses. The hearing, entitled “Small Business, Big Taxes: Are Taxes Holding Back Small Business Growth?” featured Thomas Hoghaug, CEO for Signus Medical and LockDown Surgical. Both small businesses are located in Chanhassen, Minnesota, in Paulsen’s district. Hoghaug testified that the medical device tax has resulted in lay-offs and decreased investment in research and development.
Paulsen is the author of H.R. 160, the Protect Medical Innovation Act, which would repeal the 2.3% excise tax on the sale of medical devices. The legislation has strong, bipartisan support with 277 cosponsors in the House of Representatives.
Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation, serves on the House Ways and Means Committee, the bicameral Joint Economic Committee, and is co-chair of the Congressional Medical Technology Caucus.
For more information on Congressman Paulsen’s work in Congress and to view previous editions of Erik’s Correspondence Corner, visit www.paulsen.house.gov.