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Fox News: Indiana company scraps plans for expansion over ObamaCare device tax July 27, 2012

An Indiana-based medical equipment manufacturer says it’s scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama’s health care overhaul law.

Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.

“This is the equivalent of about a plant a year that we’re not going to be able to build,” a company spokesman told FoxNews.com.

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