How small tax for ObamaCare could cause major layoffs

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-- with me today.

-- new tax could be having a big impact -- American business this is the medical device tax it's part of obamacare and there are growing concerns that it could result in some big.

Lay off Steve -- on that story in Chicago.

Our medical device tax 2.3 percent what's the effect of that 2.3 percent Steve.

Well no medical device makers don't really like this tax for the bigger ones they can whether it but for the smaller ones it's a real trouble.

Other places like or -- pediatrics out in Warsaw Indiana who say essentially this tax which began being paid or collected this year.

Is going to all but wipe out this company's budgetary item for research and development.

For us to stump up the money to pay for and we've got to cut everywhere.

But we can't take it all out of product development we wouldn't be doing much product development.

And what's tragic about that is that it impacts patience the impacts the kids.

Kids like Bryce -- he's in Warsaw Indiana as well he cerebral palsy but he can walk which is a rarity for folks with CP.

Thanks to a surgical team skill and medical implants.

It's these kinds of implants that do these kinds of innovations which may suffer because of the bottom line pressures this tax creates bill.

You know Steve.

The industry.

They've been up in arms over this for the past three years.

Is there any way something like this could be repealed as it is there an effort to do that.

Had there been continuous efforts to -- -- repeal of both last year and this year you may recall even before obamacare was passed.

Both Minnesota senators -- clover -- and Al Franken were up in arms about this but both voted for this so did.

Joseph Donnelly the new democratic senator from the state of Indiana who voted again for obamacare.

No bill is perfect but we were able to.

Obtain health care for thousands and thousands of hoosiers and so we were able to accomplish that and now we're trying to do is also accomplish.

Seeing that continued growth of the medical device industry -- our state.

And seeing them continue to flourish and grow.

Donnelly is leading an effort in the senate to try and repeal that portion of the -- he says in discussions with the White House the White House is now listening but the president himself has said in recent months that it was kind of a trade off the tax for the medical device manufacturers but they get access to.

Thirty million more potential customers device manufacturers say.

It's not that simple the tax is now.

The -- the added benefit of more people in the insurance pool that comes later and that's more bottom pressure.

Our bottom one pressure for them they'll they are not happy Steve Brown on that story out of Chicago today thank you --

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