Senator Lamar Alexander (R-TN) Proposes Tax Break For Medical Devices

by Colonel on March 22, 2013

“U.S. Sen. Lamar Alexander wants to repeal a chunk of the Affordable Care Act, better known as Obamacare, that could cost Tennessee manufacturers millions of dollars and lead to thousands of layoffs in the Volunteer State.

The 2.3 percent excise tax levied on medical device manufacturers, which is designed to help pay for President Obama’s signature health care overhaul, could cripple the largest source of Tennessee’s foreign exports, Alexander said.

“This amendment is about ending two damaging tax policies that are costing Americans billions of dollars, and costing Tennesseans good jobs,” Alexander said of the budget amendment that he sponsored on Thursday.

Alexander would make up for the lost tax revenue by cutting a $12.1 billion tax credit that subsidizes wind turbine production, with the goal of repealing both provisions without increasing the federal debt.

” — Ellis Smith, Copyright 2013 Chattanooga Times Free Press

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