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Reed Warns of Upcoming Obamacare Taxes

Press Release

Location: Unknown

Continuing his efforts to keep families and businesses informed, Tom Reed again spoke out against Obamacare taxes set to take effect in the upcoming months.

The medical device tax is one of the many tax increases set to take effect in 2013 as part of the Affordable Care Act (ACA), popularly known as Obamacare. The 2.3 percent tax increase on medical devices including defibrillators, pacemakers, and prosthetic limbs will place additional strain on small businesses and the jobs they provide. Reed was part of a bi-partisan group of co-sponsors of the bill to repeal the tax. The bill passed the House but has yet to be taken up by the Senate.

Reed cited Cook Medical as an example of one business that decided to scrap plans for new factories in the United States because of increased costs. Each of the three new factories Cook Medical planned to build was set to employ 300 people. According to reports, the company will be forced to halt these plans upon implementation of the new tax.

"The message is clear; tax increases on manufacturers cost manufacturing jobs here in the U.S. and push manufacturing jobs overseas," Reed said.

Another tax, the Health Insurance Tax (HIT), is set to take effect in 2014. The tax will increase insurance premiums, forcing employers to pay more for each employee and making it more difficult for employers to take on new employees. The increase in the cost of the policy will also be passed on to the employee as the employer will not be able to absorb the total increase. Reed co-sponsored legislation to stop the HIT and protect an estimated two million small businesses.

"Neither tax is good for employees, employers, or job creation," Reed continued. "While the medical device tax is costing jobs today, the health insurance tax is poised to cost jobs tomorrow. Obamacare does little to protect patients and is making health care more expensive. Obamacare treats health insurance symptoms but fails to treat the true problem which is the disease of rising health care costs."

Tom Reed supports repealing the ACA and replacing it with patient-centered reforms. He supports including requiring coverage for pre-existing conditions, allowing children up to age 26 to be carried on a parent's policy, and covering preventive health care services such as mammograms in any replacement legislation.

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