The 2.3 percent medical device excise tax has cost the industry an estimated $1 billion since going into effect Jan. 1, according to a Mass Device report. Device manufactures are losing an average of $194 million per month, as the tax comes off of all profits. The tax’s opponents argue this money should be going toward research and development or employee salaries rather than the federal government.
The Patient Protection and Affordable Care Act enacted the tax to raise funds for healthcare reform.
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