The Side Effects of Health Care Reform

As The Heritage Foundation noted, Nancy Pelosi said we needed to pass the health care bill so we that we could find out what was actually in it, and well, now we are. indeed learning a lot more about how harmful this bill will be. Earlier this month, Catepillar announced that the health care bill would add $100 million to its bottom line and now AT&T says that it will cost the company $1 billion because the new law does not allow it to deduct what it spends on prescription drug benefits to retirees from what it pays in taxes. As a result, AT&T may drop the benefit. Good one Democrats! The Heritage Foundation is keeping a running tallying of these unintended consquences of the health care bill on a special section of its blog. For more on the issue of increased costs for companies, click here and here.

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