Devon Herrick: The Job-Killing Medical Device Tax

In 2010, Congress passed a tax on medical devices to offset a portion of the $1 trillion cost of the Patient Protection and Affordable Care Act(ACA). Beginning in 2013, a 2.3 percent tax will be imposed on the manufacture and importation of medical devices. Devices typically sold by retailers to consumers — including toothbrushes and bandages — are exempt from the tax, whereas devices purchased from wholesalers by health care providers, such as tongue depressors and ultrasound equipment, will be taxed.

Though seemingly small, if this tax is implemented it will destroy jobs and stifle innovation.

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