Posted by
Defend America on Friday, March 19, 2010 7:56:06 PM
Equipment Maker Says Health Care Bill Would Cost It $100 Million in First Year
FOXNews.com
In
a letter Thursday to House leaders, Caterpillar said Democrats' health
care reform legislation would drive up its health care costs by more
than 20 percent
Caterpillar, the heavy-equipment maker that President Obama cited
last year in making his argument for a massive economic stimulus
package, is opposing the health care bill nearing final passage, saying
the bill would ramp up the company's operating costs by $100 million
alone in the first year and imperil coverage for its 150,000 employees
and retirees.
In a letter Thursday to House Speaker Nancy Pelosi and Minority
Leader John Boehner, and provided to FoxNews.com, the Peoria,
Ill.-based company urged lawmakers to vote against the bill, citing
provisions in it -- such as new coverage mandates and the taxation of
Medicare subsidies for prescription drugs -- that would drive up its
health care costs by more than 20 percent.
...
Last year, Obama said he was told by the world's largest maker of
mining and construction machinery that it would hire back some of the
more than 22,000 workers it planned to lay off if the president's
stimulus bill passed.
But Caterpillar CEO Jim Owens later contradicted the president and
said even if the stimulus passed, the company would probably have to
lay off more workers before rehiring any of them.
http://www.foxnews.com/politics/2010/03/19/equipment-maker-says-health-care-cost-million-year/