Taxes and Fees

Device-makers say tax will cost 43,000 US jobs

{mosads}Diana Furchtgott-Roth, a senior fellow at the Hudson Institute, said device firms are already moving their operations to other countries and that the trend will accelerate if the device tax is left in place.

Companies that relocate overseas would still have to pay the 2.3 percent tax. Furchtgott-Roth said the firms would nevertheless make the move because they would face a lower overall tax rate.

Three bills to repeal the tax have been introduced in the House. The leading measure, sponsored by Rep. Erik Paulsen (R-Minn.), has 187 co-sponsors.

AdvaMed officials told reporters Wednesday that they’re not aware of any immediate plans to move a repeal bill, but said it would be a logical fit for debates over job creation or tax reform.

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