A small medical device start–up shortly after receiving FDA approval for a device it started to market realized that as of January 1, 2014 was faced with the obligation to pay a federal 2.3% excise tax without ever knowing if their company would turn a profit. The company faces the inability to reinvest, hire employees or seek financing because of this new obligation. Blakeman immediately engaged with the company to devise a strategy to make our company part of other affiliations and like-minded groups that faced the same dilemma. Also, Blakeman created a strategic plan of action to engage lawmakers and the media thus making our company to example for why this excise tax as part of Obamacare should be repealed.
Confidential as the client is a private entity.
This is an ongoing effort but already we are seeing a bipartisan effort to either repeal the tax or create an accommodation to lessen the detrimental effects of an excise tax that retards the ability for big and small countries to innovate, create jobs or seek private financing.