Indiana company scraps plans for expansion over ObamaCare device tax

An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.
Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
"This is the equivalent of about a plant a year that we're not going to be able to build," a company spokesman told FoxNews.com.
He said the original plan was to build factories in "hard-pressed" Midwestern communities, each employing up to 300 people. But those factories cost roughly the same amount as the projected cost of the new tax.


Read more: https://www.foxnews.com/politics/2012/07/27/indiana-company-scraps-plans-for-expansion-over-obamacare-device-tax/#ixzz21w0o5pVs


So much for being a job creator.