Statement of Administration Policy: H.R. 160 - Protect Medical Innovation Act of 2015
STATEMENT OF ADMINISTRATION POLICY
(Rep. Paulsen, R-MN, and 282 cosponsors)
The Affordable Care Act has improved the American health care system, on which Americans can rely throughout life. After more than five years under this law, 16.4 million Americans have gained health coverage. Up to 129 million people who could have otherwise been denied or faced discrimination now have access to coverage. And, health care prices have risen at the slowest rate in nearly 50 years. As we work to make the system even better, we are open to ideas that improve the accessibility, affordability, and quality of health care, and help middle-class Americans.
H.R. 160, which would provide a large tax break to profitable corporations by repealing the medical device excise tax, does not advance these goals. The medical device industry, like others, will benefit from millions of new consumers who are gaining health coverage under the Affordable Care Act. This excise tax is one of several designed so that industries that gain from the coverage expansion will help offset the cost of that expansion. Its repeal would take away a funding source for financial assistance that is working to improve coverage and affordability and would increase the Federal deficit by $24.4 billion over 10 years.
In sum, H.R. 160 would increase the deficit to finance a permanent and costly tax break for industry without improving the health system or helping middle-class Americans. If the President were presented with H.R. 160, his senior advisors would recommend that he veto the bill.
Barack Obama, Statement of Administration Policy: H.R. 160 - Protect Medical Innovation Act of 2015 Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/310790