Venture capitalists pumped less money into U.S. medical device companies last quarter than in any similar period since 2004. And Elizabeth MacDonald of Fox Business has identified the culprit: President Obama. The issue, MacDonald argues, is a new 2.3% excise tax to be paid by medical device companies on gross sales. It’s part of the Affordable Care Act (a.k.a. Obamacare), and is expected to generate around $29 billion in revenue over its first decade (beginning on January 1).
