WillowTree
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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.
Read more: Indiana company scraps plans for expansion over ObamaCare device tax | Fox News
Say bye bye to a bunch of new jobs and some much needed equipments. wow you are so awesome obummer so freakin awesome.
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.
Read more: Indiana company scraps plans for expansion over ObamaCare device tax | Fox News
Say bye bye to a bunch of new jobs and some much needed equipments. wow you are so awesome obummer so freakin awesome.