Paulsen: Medical Device Tax Already Costing Jobs & Innovation.
March 5, 2013
Rep. Erik Paulsen (MN-03) and the Ways and Means Oversight Subcommittee held a hearing to discuss the tax-related provisions in the President's health care law.
According to the Government Accountability Office (GAO), the President's health care law contains 47 tax or tax-related provisions. Estimates by the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) confirm that tax increases associated with the law total more than $1 trillion over the next ten years. Many of these provisions are already in effect, and others will become effective in 2014. Key provisions include: a tax on medical device and drug manufacturers, and health insurers; a tax on individuals and families who do not purchase government-mandated health insurance, a tax on employers that do not offer government-mandated health insurance, additional Medicare taxes and taxes on investment income.
learn more at paulsen.house.gov