New Hampshire's Economy Damaged by Obamacare's Medical Device Tax
Today, Frank Guinta continued his Health Care Listening Tour with a stop at Portsmouth based Novocure, an innovative company dedicated to the development of specific therapies designed to fight cancer.
Within Obamacare, there is a 2.3 percent excise tax levied on all medical device manufacturers in order to pay for the law. Companies like Novocure are directly and detrimentally affected by this tax; a tax Congresswoman Carol Shea-Porter not only refuses to repeal, but one she helped create when she voted to implement Obamacare.
Frank Guinta released the following statement:
“I support the repeal of the onerous medical device tax. The Granite State is home to roughly 50 medical device manufacturers employing around 3,800 people. This tax hampers a business’ ability to operate within a competitive international marketplace. Over time, as these businesses struggle to compete with the added weight of federal taxes, they will likely be required to layoff
employees, further hurting New Hampshire’s struggling middle class. We can do much better than the current law. We need to reform medical malpractice law, permit the purchasing of health care plans across state lines, and implement other free-market principles that will reduce costs, and increase access to care."