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Indiana company scraps plans for expansion over ObamaCare device tax

this is a discussion within the Everything Else Community Forum; An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law. Cook Medical claims the tax on medical devices, set ...

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Old 07-28-2012, 09:46 AM   #1
 
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Indiana company scraps plans for expansion over ObamaCare device tax

An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.



Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
"This is the equivalent of about a plant a year that we're not going to be able to build," a company spokesman told FoxNews.com.
He said the original plan was to build factories in "hard-pressed" Midwestern communities, each employing up to 300 people. But those factories cost roughly the same amount as the projected cost of the new tax.
"In reality, we're not looking at the U.S. to build factories anymore as long as this tax is in place. We can't, to be competitive," he said.


Read more: Indiana company scraps plans for expansion over ObamaCare device tax | Fox News

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Old 07-30-2012, 03:22 PM   #2
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Why to go Obama.
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Old 07-30-2012, 06:59 PM   #3
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Originally Posted by QBREES9 View Post
Why to go Obama.
Say that in English please?
Not foreign student lingo!
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