Skip to comments.Democrats threaten companies hit hard by health care bill
Posted on 03/28/2010 11:05:23 AM PDT by Nachum
Rep. Henry Waxman, chairman of the House Committee on Energy and Commerce, has summoned some of the nation's top executives to Capitol Hill to defend their assessment that the new national health care reform law will cost their companies hundreds of millions of dollars in health insurance expenses. Waxman is also demanding that the executives give lawmakers internal company documents related to health care finances -- a move one committee Republicans describes as "an attempt to intimidate and silence opponents of the Democrats' flawed health care reform legislation."
On Thursday and Friday, the companies -- so far, they include AT&T, Verizon, Caterpillar, Deere, Valero Energy, AK Steel and 3M -- said a tax provision in the new health care law will make it far more expensive to provide prescription drug coverage to their retired employees. Now, both retirees and current employees of those companies are wondering whether the new law could mean reduced or canceled benefits for them in the future.
(Excerpt) Read more at washingtonexaminer.com ...
When 100’s of companies follow the lead of Deere, Caterpiller and At&T, what is Waxman going to do - parade them ALL up to Capitol Hill to give them “what for”? This is very bad publicity for Ovomitcare and they want to nip it in the bud before it gets out of hand.
This is nothing more than intimidation. Waxman/Stupak want to make examples of these companies in an attempt to cow others who might follow suit not to do so. It won’t work. They have created a monster and, like Pelosi said, the bill passed, so now we’re (inc. Democrats who voted for it) finding out what’s in it.
Advise stockholders to tell Companies and their officers to stop making campaign contributions to these Democratic party idiots
If he decided, and he would, to be a dork about it, then these companies could all simultaneously release statements that would guarantee their stockholders would drop their share prices by 10% or more in a day. And then, they could point their finger at Waxman as the party responsible for "crashing the stock market."
Bring out the Number Crunchers! - Bring out the Number Crunchers!
Win one for the Gipper
Hose nose waxman has NO IDEA of what is in this deathcare bill anymore than those who voted for it do.
These companies are obligated by SEC law to post revised earnings or losses ahead of time. If I was one of these CEOs, I’d tell Congress to pound sand.
Sounds like Hugo C.
I am sure he is proud.
Hey, nostril, if you increase taxes on something (drug benefits for retirees) you get less of it. The government may be able to print money but AT&T can’t. I remember people saying stuff like this would happen. The Democrats seem to think the can bully their way into gaining acceptance. I welcome an investigation especially a televised one.
Fascism on the march.
Looks like Lenin.
Wonder how many more will make announcements before this scam hearing on April 21? I hope many, many more.
They might can get away strong arming those who received bailouts, but those he didn’t, I hope they tell them to go pound sand & to eat dirt.
An amalgamation of the Chicago and Washington D.C. ways.....personified exponentially under this Jack Squat administration.
I am figuring Obama will find some way to shut down the casinos in Vegas and Atlantic City next.
Heck, I don’t think those companies will have a bit of a problem giving Congress data on how much this health care bill will cost. In fact, I would demand open hearings.
Waxy looks a bit like Lenin in that pic