Wednesday, December 26, 2012

CPP: 'CO Senators’ Signatures Absent on Request to Delay Medical Device Tax'

Quoting from the December 13th posting:

"Last week, 18 Democratic U.S. Senators sent a letter to Sen. Harry Reid asking for a delay in the medical device tax due to go into effect in 2013, citing the importance of the industry to the U.S. economy. The medical device tax, a 2.3% federal tax on the price of medical devices, is another crippling tax that’s part of Obamacare. When we saw the news, we thought for sure that two of the 18 Senators who signed the letter would be Colorado’s U.S. Senators, Sen. Mark Udall and Sen. Michael Bennet, given the importance of the medical device industry to Colorado’s economy. But, their fingerprints were nowhere to be found on this letter...

...According to April Giles, President and CEO of the Colorado BioScience Association, 'the medical device sector makes up 50% of the [bioscience] industry for Colorado, with employment growth far exceeding the other sectors at 14.5% over the past 4 years.'

Here’s a few stats from the Colorado Bioscience Association:

• The region’s medical device sector, a subsection of the bioscience industry, is the sixth-largest in the nation

• Employment in the industry grew 8.1% from 2005-2010

• Colorado employs 20,000 people in the bioscience industry, creating 100,000 direct and indirect jobs, translating into $7 billion in payroll, at an average salary of $74,000

• For every job created in Colorado’s bioscience industry, four direct and indirect jobs are created

Link to the full posting

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