“We simply can’t afford to let this job-killing tax take effect”
(Washington – June 7, 2012) Representative Frank Guinta (R, NH-01) voted for passage of H.R. 436, the Health Care Cost Reduction Act on Thursday. It was approved in a strongly bipartisan vote of 270 to 146.
Next January, a new 2.3% tax contained in the 2010 health care reform law, will be imposed on the sale of medical devices. That is expected to hit medical manufacturers hard, forcing them to cut workers, pass the cost of the tax on to consumers, scale back spending on research and development, or all of them.
Rep. Guinta made the following statement after the vote:
“New Hampshire is home to about 50 medical manufacturing firms that employ approximately 3,800 people. Most of them work at small businesses with fewer than 50 employees. One industry study estimates up to 43,000 of these good, middle-class jobs could vanish nationally as a result of the new tax – jobs we can’t afford to lose right now. We simply can’t afford to let this job-killing tax take effect.
“I’m committed to using my vote to repeal legislation, to stop excessive taxes and to end overzealous regulations that are strangling New Hampshire’s small businesses.”