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
- Ban fireworks? Get serious - 11
- Praising freedom: While curtailing it - 16
- Fergus Cullen: No politics buffer zone - some want issue unsettled - 7
- The perfect winner: Mrs. Craig gives when she receives - 0
- A sacred rite denied: Partial justice in Marriott murder - 0
- Casino tax breaks: Bad news for Gov. Hassan - 4
- A medal well earned: Ryan M. Pitts is a hero - 3
- Treat them better: Bad medicine for veterans, military - 14
- Editorial: USNH’s freeze a good start - 3
READER COMMENTS: 0
- Mark Hayward's City Matters: Manchester's bike culture shifts into high gear - 0
- Ignoring Lyme: What are state, towns doing? - 0
- Dave D'Onofrio's Sox Beat: Red Sox makeover underway - 0
- Tom Herzig's Trackside: MacDonald has NHMS track experience - 0
- Drew Cline: Scott Brown plans to win over NH one handshake at a time - 0
- Anthony M. Kay - 0
- Walsh paces Sweeney Post past Laconia - 0
- Late rally lifts Red Sox past White Sox - 0
- On Baseball: Matinee win keeps Fisher Cats on a roll - 0
Police say Manchester woman arrested for punching ex-boyfriend during custody exchange in Walmart parking lot
Bikers say under-30 generation isn't interested, and can't afford many of the top motorcycles
Salem drops $50 permit for Sunday sales
Anthony M. Kay
Ban fireworks? Get serious
GOP criticizes Shaheen over gas tax