Medical Device Companies Want Device Tax Eliminated As Part of Fiscal Cliff

Job cuts and reductions in R&D budgets have already been announced in advance of the 2.3 percent tax

Starting January 1, medical-device makers must pay a new 2.3% excise tax on sales, regardless if they make a profit, to raise $30 billion over the next decade to pay for health reform.

FOX Business has obtained a letter sent this month to the Senate from executives at more than 800 companies and medical groups demanding the tax be repealed as part of the fiscal cliff deal.