Medical device tax: Survey says jobs are on the line
The Medical Imaging & Technology Alliance's medical device tax impact survey indicates that more than 40% of member company executives anticipate job losses as a result of the 2.3% medtech levy.
A substantial portion of surveyed medtech executives said the 2.3% medical device excise tax would lead to layoffs in the U.S., according to tax impact survey conducted by the Medical Imaging & Technology Alliance.
The respondents, executives from MITA members companies, said they expected to pay more than $287 million dollars in additional taxes next year.
In the survey 41% of participants anticipated job cuts that would impact manufacturing, sales, management and service workers. Nearly 30% also predicted a reduction in research and development funding.