02/05/13
A medical company called Smith & Nephew is blaming Obamacare for having to lay off 100 people in Tennessee and Massachusetts.
The company, which makes orthopedic reconstruction products, is blaming 2.3 percent excise tax on medical devices in President Obama's health care law for the layoffs, according to Fox13 News.
“The nearly $30 billion tax on medical devices that took effect Jan. 1, 2013, has impacted a number of companies across the U.S.,” the company said in a statement to Fox13 News.
Medical companies lobbied to get the tax, which is levied on medical devices implanted by professionals, repealed, according to Reuters. The tax is expected to raise $29 billion in government revenue through 2022.
Joe Metzger, the company's senior vice president of corporate communications, told the Memphis Business Journal that the firm is "not immune from this added expense burden."
Read more at http://www.reagancoalition.com/articles/2013/20130205006-ocare-layoffs.html?a=2#VBct3oqlt015fFsZ.99
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