If it’s Friday, it’s another White House dump day. Cue the dump truck horn: Doot! Doot! Doot!
While Obama sycophants are busy trumpeting deceptive jobs numbers, the administration is quietly moving forward with job-killing Obamacare regs and taxes. The IRS today released rules to impose the $20 billion Obamacare medical device tax scheduled to take effect next year.
At a time when the White House is touting its government initiatives to champion “innovation,” the Obamacare innovation tax on medical device/diagnostic manufacturers will kill an estimated 43,000 jobs.
The very job creators President Obama purports to support are balking at the tax regs and have called for repeal. The Advanced Medical Technology Association, America’s leading association for med tech manufacturers, blasts the new rules:
“[The proposed IRS regulations] highlights the need for prompt action by Congress and the Administration to repeal this anti-competitive, job-killing tax,” Stephen J. Ubl, AdvaMed president and CEO said in a statement.
“Failure to repeal the device tax flies in the face of the President’s comments during the State of the Union about the need to reform our tax system to make our nation more competitive in the world market, a view shared by members of Congress from both parties,” Ubl went on to explain, adding that “the tax will create a number of complex administrative and technical burdens that must be addressed.”
I’ve reported before on how the medical device tax has already resulted in operational and job cutbacks in Massachusetts, home to many medical innovators.
Fewer jobs. Fewer entrepreneurs. Fewer medical advances.
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