action:article | category:NEWS02 | adString:NEWS02 | zoneID:39

Home » News » Business

February 07. 2013 10:46PM

Ayotte co-sponsors bill to repeal tax

WASHINGTON - Sen. Kelly Ayotte, R-N.H., is cosponsoring bipartisan legislation to repeal the $29.1 billion Medical Device Tax, a new excise tax on medical devices that took effect Jan. 1 as part of President Obama's health-care law.

The Medical Device Access and Innovation Protection Act, introduced by Sen. Orrin Hatch, R-Utah, would repeal the provision, under which medical devices have a 2.3 percent excise tax.

New Hampshire is home to about 50 medical device companies employing approximately 3,800 people, according to Ayotte's office.

Manchester-based Coreflex and Keene-based Smiths Medical are among the companies that are affected by the tax.

"If not repealed, it will ultimately force companies like us to cut research and development dollars, pass costs on to consumers, or even consider reducing our work force," said Paul Lorenzetti, CEO of Corflex.



 New Hampshire Events Calendar
    

    SHARE EVENTS FOR PUBLICATION, IT'S FREE!

Upcoming Events

  • What do you plan to do with money saved on oil and gas this year?
  • Spend it
  • 23%
  • Bank it
  • 31%
  • Pay off debt
  • 46%
  • Total Votes: 716

 New Hampshire Business Directory

  

    ADD YOUR BUSINESS TODAY!