McCarthy Statement on House Passage of the Health Care Cost Reduction Act
House Majority Whip Kevin McCarthy (CA-22) released the following statement regarding House passage of the Protect Medical Innovation Act (H.R. 436):
“There is bipartisan agreement in Washington that we must do everything we can to spur economic growth and get Americans back to work. Private sector growth and job creation has been hampered by economic uncertainty made worse by the President’s and Senate Democrats’ tax-and-regulate agenda over the last three years.
“Today, the House voted to repeal key provisions of ObamaCare that imposed an arbitrary and punitive $29.1 billion tax on medical devices and limited the choice and flexibility of healthcare for patients and their families. It is estimated ObamaCare’s medical device excise tax would cost up to 47,000 good-paying American jobs, $3.5 billion in lost wages and benefits and shift costs onto consumers. In addition, this bill protects patients using Health Savings Accounts and Flexible Spending Arrangements from increased taxes and health costs by repealing the limitation on reimbursement of the over-the-counter medications. These provisions threaten America’s standing as a world leader in medical innovation and technology as well as the quality of healthcare for all Americans.
“I would like to thank Reps. Erik Paulsen (MN-3), Lynn Jenkins (KS-2) and Charles Boustany (LA-7) for their leadership on this crucial bipartisan legislation that protects American jobs, supports medical innovation, reduces healthcare costs, and provides American families more choice and flexibility – it is my hope that Senate Democrats will join us in this effort.”