800 Companies, Groups Demand Repeal of Medical Device Tax
Published November 28, 2012  | FOXBusiness    Click here to read
the letter  House Majority Leader Eric Cantor (R-Virginia) told
FOX News that the 2.3% device tax should be part of the fiscal
cliff deal, along with the health-reform law.  Already
technology companies are announcing job cuts, reductions in R&D
budgets and are canceling plans to build plants to pay for the
tax. One study from trade association AdvaMed forecasts a huge
43,000 jobs lost due to the new tax. And it's the little guy who
will get hit hardest, since many of the novel, cutting-edge
medical technology innovations come from small companies with
few employees.  The medical-device tax is among the nearly two
dozen new or higher taxes in the Affordable Care Act that seek
to raise tens of billions of dollars to pay for health reform.
The medical-device tax has been roundly criticized as putting
life-saving medical devices in the same tax category as alcohol
or cigarettes.  Companies