MEMPHIS, Tenn. (CBSDC) — A medical company is blaming President Obama’s health care law for the layoffs of nearly 100 people.
Smith & Nephew says a 2.3 percent excise tax on medical devices in the “Obamacare” law caused the layoffs in the Memphis and Andover, Mass., offices.
“The nearly $30 billion tax on medical devices that took effect Jan. 1, 2013, has impacted a number of companies across the U.S.,” the company said in a statement to WHBQ-TV.
Photo credit: criticalbias.org (Creative Commons)
Please share this post with your friends and comment below. If you haven't already, take a moment to sign up for our free newsletter above and friend us on Twitter and Facebook to get real time updates.