A new tax levied by President Obama’s health care law will likely hike veterinary bills for the nation’s pet owners as businesses pass their increased costs along to consumers.
The news comes as even Senate Democrats who voted for the law are demanding the tax in question be postponed.
The Internal Revenue Service will administer a 2.3 percent medical device tax as a means to fund the new law. According to a rule published in December in the Federal Register, the tax will hit some devices used in veterinary practices. The nation’s pet owners, who according to the American Pet Products Association already spend more than $12 billion on veterinary care annually, can expect the cost of caring for their pets to increase.
Devices used exclusively for animal care are not required to be listed as a “device” under applicable FDA regulat