Monday, July 8, 2013
Notable and Quotable: Another Damaging Obamacare Tax
Unless the federal government changes the 2.3% revenue tax, and until the Patient Office and the FDA improve their turnaround times for regulatory decisions, medical-device startups are in the U.S. are all but doomed. For the sake of medical innovation and the future of health care, our lawmakers should repeal this damaging tax immetiately...Venture capital is drying up for medical –device startups facing the new 2.3% levy.
Fred Burbank, MD, and Thomas J. Fogarty, MD. Dr. Burbank is director of the Salt Creek International Women’s Health Foundation in San Clemente, Calif. Dr. Fogary is director and funder of the Fogary Instiute for Innovation in Mountain View Calif. July 8, 2013 Wall Street Journal.
Tweet: The Obamacare 2.3% tax on Medical Device Company revenues and delays for approval are stifling medical innovation.