Obamatax Kills Company’s Plant Expansion Program

Fox News

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.

Read more: http://www.foxnews.com/politics/2012/07/27/indiana-company-scraps-plans-for-expansion-over-obamacare-device-tax/?test=latestnews#ixzz220CNEmQV


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