When the U.S. House voted to repeal the job-killing medical device tax over the weekend, 17 Democrats voted to repeal. We hoped three of the 17 were the fair Democratic representatives from Colorado, Reps. Degette, Polis, and Perlmutter. Alas, these three have disappointed Colorado. Again. Reps. Degette, Polis, and Perlmutter all voted to keep the punitive tax.
The medical device tax, a 2.3% federal tax on the price of medical devices, is another crippling tax born from Obamacare.
What’s the big deal about medical devices? It’s one of Colorado’s fastest growing industries. As a quick reminder, here are a few stats about the medical device industry in Colorado, as given to us from the Colorado Bioscience Association.
- The region’s medical device sector, a subsection of the bioscience industry, is the sixth-largest in the nation
- Employment in the industry grew 8.1% from 2005-2010
- Colorado employs 20,000 people in the bioscience industry, creating 100,000 direct and indirect jobs, translating into $7 billion in payroll, at an average salary of $74,000
- For every job created in Colorado’s bioscience industry, four direct and indirect jobs are created
We guess these three care more about ideology than they do about jobs in Colorado. Noted for 2014.