Obamacare Taxes Blamed for Medical Manufacturer's Layoffs

Smith and Nephew says the $25 million annual tab is unaffordable

MEMPHIS — Memphis officials have showered millions of taxpayer dollars upon one of the city's major medical manufacturing firms, one that employs almost 2,000 people. Now that company says Obamacare has jeopardized its operation.

In a story that made national headlines last week, Smith and Nephew company officials announced they were laying off 100 employees. In a statement, they cited a new Medical Device Tax, a provision of Obamacare, as the primary cause.

Industry representatives call the tax devastating.