Obamacare is claiming its first victim due to the massive tax increases the law imposes. A company in Indiana which makes medical devices says that it will no longer be expanding its business given the millions of dollars in new taxes it would be forced to pay.
An Indiana company's decision to scrap expansion plans due to a looming tax on medical devices has renewed pressure on the Senate to consider a House-passed bill repealing the tax.
House Speaker John Boehner, in a written statement, urged the Senate to take up the bill "as soon as possible."
Companies in the medical device industry for months have been calling on Congress to strip the provision. Amid the complaints, though, several firms have already taken steps to cut back U.S. investment out of concern for the tax's impact.
The vice president of the company said it will to "shelve these expansion plans and look overseas for that."