7/26/2013

The 2.3% excise tax on medical devices that went into effect in January is forcing medtech firms to reallocate funds from other areas, including research and development of innovative new products, to pay the tax, writes Sen. Dan Coats, R-Ind., in this opinion piece. Coats has backed legislation to repeal the tax and reports that some Democrats in the Senate also support a repeal. "In these tough economic times, we need to be encouraging job creators like device manufacturers to expand and hire instead of hamstringing them with debilitating taxes that prevent growth," Coats writes.

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