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: 15
- Jeb takes a dip: First Flavor of the Week - 22
- Asking about marriage: The Census should keep doing it - 3
- All lives matter: Even Al Sharpton says so - 16
- Taxi fail: City regulations don't work - 15
- Nanny knows best? Don't count on it - 2
- Walmart traffic: Does the city have a plan? - 4
- Politicizing rape: An injustice for everyone - 9
- NH House choices: Jasper makes good selections - 12
- Better federal budgeting: GOP's chance to show it can govern - 6
READER COMMENTS: 0
- Former New London police chief settles with female accuser - 0
- Alleged parental kidnapper arraigned, ordered held on $250,000 cash bail - 0
- Reports: Celtics near completion of Rondo deal - 0
- Grid coach Cote, BG go their separate ways - 0
- Former owners of 'casualty' of Northern Pass file appeal - 0
- Holiday sales may recover with help of deep discounts - 0
- Wall Street has best 2-day gain since 2011 on Fed optimism - 0
- State Employees Association declares impasse in bargaining - 2
- Shipyard to hire 715 in next year - 1
BANANAS and NH's energy needs
Enter to win tickets to see Tom Chapin
Win tickets to see Linkin Park
NH reacts to thaw with Cuba
Vermont's disaster: An Obamedy of errors
NH reacts to thaw with Cuba
Power Plays: BANANAS and NH's energy needs
Police: Man endangered child after overdose