A medical device excise tax scheduled to take effect in 2013 will cost billions of dollars and thousands of jobs, a letter to Congress from an industry group warns. The Advanced Medical Technology Association cites a study it commissioned as evidence. The study asserts that a 2.3% excise tax on medical devices will cost manufacturers more than $2.7 billion each year, and could reduce industry-related jobs by 43,000. Hardest hit would be states with the most workers in the sector. These include California, Colorado, Indiana, Massachusetts and Minnesota, the organization notes.
Excise tax may prove costly, industry group warns
September 14, 2011