The 2.3% excise tax on medical devices could lead to a loss of 146,000 jobs, according to former Bush economist Diana Furchtgott-Roth. Testifying before the House Energy and Commerce Committee, Furchtgott-Roth, a senior fellow at the Manhattan Institute, predicted that firms facing the tax would move production offshore, adding that a 10% shift in production overseas would cost up to 64,000 jobs, and a 30% shift would cost up to 146,000 jobs.
According to the Washington Examiner, the hearing took place as conservative senators Ted Cruz (R-TX), Mike Lee (R-UT), and Rand Paul (R-KY) sought to delay implementation of the Affordable Care Act until the economy improves. "It could very well push us into a recession," Cruz commented.
Here's more on the device tax:
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