Monday, July 30, 2012

Indiana Company May Have Some Impact on Obamacare Repeal

An Indiana company changed plans last week to build five new plants that could have employed 1500 workers because of provisions in Obamacare.

Cook Medical said the tax on medical devices which goes into affect next year will cost the company $20 million per year.  The new tax will be close to the cost of building the new plants. A company spokesperson the company would be unable to support both the new tax and the cost of building the plants. Jobs that would have been created in the Midwest may now be shipped overseas according company officials.

The plight of Cook Medical any and probably others has reach the GOP Leadership in the House.

Speaker John Boehner has written a later to Senate leaders urging them to take of the House passed bill to repeal that provision and many others.

The Affordable Care Act - Obamacare - includes a provision that taxes medical devices at a 2.3 percent rate beginning in 2013.  The tax is expected to bring into federal coffers $30 billion over the next ten years.

Obama administration officials deny that any jobs will need to be shipped overseas because of the tax.  Obviously, the Obama administration/campaign has not contact Cook Medical.

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