Economist: Medical Device Tax Would Push 146,000 Jobs Overseas
The 2.3% sales tax on U.S. medical device sales would push as many as 146,000 U.S. medtech jobs offshore, conservative economist Diana Furchtgott-Roth tells a Congressional panel.
The medical device tax, a 2.3% levy on all U.S. medtech sales, could push 146,000 jobs overseas, conservative economist Diana Furchtgott-Roth told a U.S. House of Representatives committee this week.
Furchtgott-Roth, a senior fellow at the Manhattan Institute think tank, told the House Energy & Commerce Committee that the medical device tax enacted as part of the Affordable Care Act would "shift production offshore," the Washington Examiner reported.
A 10% production shift would cost up to 64,000 jobs and a 30% shift would cost up to 146,000 jobs, Furchtgott-Roth told the panel, according to the newspaper.