U.S. Sen. Rick Scott, R-Fla., has thrown his support behind a proposal to repeal a tax enacted by then President Barack Obama.
This week, Scott announced he was cosponsoring U.S. Sen. Pat Toomey’s, R-Penn., “Protect Medical Innovation Act” which would end the 2.3 percent medical device tax included in Obama’s “Affordable Care Act.”
Scott pointed to his eight years as governor of Florida as to why he supports cutting taxes, including this one.
“During my time as governor of Florida, we returned $10 billion back to Florida’s hardworking taxpayers. My focus on cutting taxes and reducing burdensome regulations helped Florida businesses thrive and create nearly $1.7 million jobs in just eight years. I’m proud to work with my colleagues to build on Florida’s success and create an environment where businesses, small and large, can succeed. Florida is home to a variety of medical device companies, employing nearly 21,000 Floridians with high-paying jobs. Eliminating the burdensome medical device tax fosters innovation and helps Florida’s manufacturers succeed and create more jobs for families,” Scott said.
While the tax was enacted at the start of 2013, it has been suspended since the start of 2016.
“If it takes effect, the tax is projected to raise taxes by roughly $20 billion over the decade,” Scott’s office noted, pointing to studies that it could lead to the loss of 25,000 jobs if it was restored.
Scott becomes the 35th senator and the 25th Republican in the Senate to cosponsor the bill which has been stuck before the U.S. Senate Finance Committee since March. Other cosponsors include U.S. Sen. Marco Rubio, R-Fla., and U.S. Sen. Amy Klobuchar, D-Minn.
U.S. Rep. Ron Kind, D-Wisc., introduced the companion bill in the U.S. House and has reeled in almost 250 cosponsors. The bill has strong support from the Florida delegation as Democrat U.S. Reps. Charlie Crist and Republican U.S. Reps. Gus Bilirakis, Vern Buchanan, Mario Diaz-Balart, Neal Dunn, Matt Gaetz, Brian Mast, Bill Posey, John Rutherford, Ross Spano, Greg Steube, Michael Waltz, Dan Webster and Ted Yoho are cosponsoring it.
Reach Kevin Derby at [email protected].
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