More than 400 companies in a letter Monday urged Congress to repeal a $20 billion medical-device tax scheduled to go into effect in 2013. Over 400 health-care companies, venture-capital firms and other associated organizations, including Boston Scientific Corp. (BSX), Kimberly-Clark Corp. (KMB)'s health-care unit and the National Association of Manufacturers, pushed for the repeal of a 2.3% excise tax on medical-device manufacturers. The tax is designed to help offset the cost of the health-care overhaul Congress passed in 2010.
