Sec. 552: Small Medical Device Companies Hit with Massive Tax
Under Speaker Pelosi’s health care bill, medical device makers would pay a 2.5% excise tax on sales of their products, roughly ninety percent of whom are small businesses. The Medical Device Manufacturers Association estimates the cost to their industry would exceed $20 billion over 10 years. Job creation will surely be halted with these tax increases
Amplify’d from thomas.loc.gov
`(a) In General- There is hereby imposed on the first taxable sale of any medical device a tax equal to 2.5 percent of the price for which so sold.
SEC. 552. EXCISE TAX ON MEDICAL DEVICES.
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