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
- Undefeated season for Pinkerton math team - 0
- Plaistow looks at driver education options - 0
- 3 finalists named for NHTI president - 0
- Dartmouth president calls for end of high-risk behavior - 3
- Hallsville School's Tower Clock will be restarted Friday - 0
- Granite State group proposes student-centered learning - 0
- Zakahi named provost, VP of academic affairs at Keene State - 0
- Pinkerton graduate, author returns to give academic advice to students - 0
- Transition to new grading system continues in Nashua - 4
READER COMMENTS: 0
- Londonderry councilors critical of town’s economic development website - 0
- Candia teen faces more counts in connection with burglary - 0
- Suspect arrested, loot recovered 10 minutes after Derry bank robbery - 0
- Ellsbury propels Yanks over Sox - 0
- Bruins shut out Wings - 0
- Phaneuf leads Derryfield laxers past Pelham - 0
- High School Volleyball results - 0
- Manchester Crimewatch: Teen recruited juvenile for burglaries - 0
- Cell phones, speakers stolen in separate incidents - 0
Younger of two brothers convicted of murdering parents quietly released after 18 years in prison
High School Volleyball results
Bruins shut out Wings
Shaheen touts land conservation fund
Prepare to pay more to park in Manchester
Secret arrests? Not if we can help it
Latest Groton wind farm fight: Snow plowing