Medical Device Tax To Cost $194 Million Per Month

Senator Pat Toomey (R-Pa.) says the medical device tax that took effect in January as part of Obamacare is expected to cost device manufacturers roughly $194 million per month putting 43,000 American jobs at risk.

He says that in Pennsylvania, the medical device tax will cost our economy $100 million a year, causing job losses and harming the ability of companies to expand and hire.

"I have heard from many manufacturers including Fujirebio Diagnostics based in Malvern, B. Braun located in the Lehigh Valley, and Cook Medical with a location in Vandergrift that this tax is already eliminating Pennsylvania jobs, undermining our economy, and driving up the cost of care for patients," he said. "I continue to work to repeal the medical device tax that was created in the president's health care law. We must eliminate a burdensome provision of this law which forces manufacturers of medical devices - ranging from cochlear implants to pacemakers to artificial joints - to pay a 2.3 percent tax on their sales."


 

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