Home » News » Health » Affordable Care Act
Ayotte says medical device tax a crusher
"This is a tax that unfortunately is a 2.3 percent tax on revenue, so it is not a tax on profit," Ayotte said while touring McClellan Automation Systems on Continental Boulevard. "This hurts innovation, and has a negative impact on investments and research and development."
Ayotte is co-sponsoring legislation to repeal the Medical Device Tax, a $29.1 billion excise tax that took effect last year as part of the Affordable Care Act. The proposed legislation, the Medical Device Access and Innovation Protection Act, was introduced one year ago and is still sitting in the Senate Finance Committee.
Without the repeal, companies such as McClellan Automation Systems will continue to be hard hit by the tax, according to Jim McClellan, president of the local business that employs about 140 workers.
During a previous budget resolution that was not voted into law, the Medical Device Access and Innovation Protection Act received major support from lawmakers, said Ayotte.
McClellan is trying to move forward despite the tax hardship, and last year initiated a private incubator initiative that helps advance struggling businesses — even competitors — to create more motivational workers. Entrepreneurs who may have a great product with a patent, but haven't been able to reach the finish line, are being assisted by McClellan Automation Systems to get their product to the market and sold.
READER COMMENTS: 0
- Auburn Child Find clinic set - 0
- Rist defends his salary as interim Central principal - 5
- Londonderry band takes 1 trip for 2 parades - 0
- Londonderry students rewarded with indoor 'snowball' fight - 0
- Student artwork on display in Derry for PTA's Reflections - 0
- $1 million cut from Nashua school budget - 0
- Video on molestation, shown to Manchester 3rd graders, upsets parents - 19
- Claremont high school’s renovation causes upset, sparks inspection - 0
- Nashua school members' letter prompts an apology - 0
READER COMMENTS: 0
- Katie McQuaid's Scene in Manchester: Parents share what 'CJ' taught them - 0
- Gilford High junior surprised by Francis Wayland Parker honor - 0
- Police bill disputed by Stewartstown and Colebrook ends up in court - 0
- New to Nottingham, fire victims plan to stay - 0
- ‘Coffee with a Cop’ promotes police, community relations - 0
- Troy voters accept community center donation - 0
- Voters support Bow School District articles - 0
- License revocations for DWI announced - 0
- Nashua mayor: Greeley Park is right spot for playground - 0
Police at scene of Center Ossipee shooting
New to Nottingham, fire victims plan to stay
Litchfield man found stabbed
Scott Brown's latest step stirs the pot
Hooksett's choices: Leave them to parents