But it will save money, right?

Caterpillar: Health care bill would cost it $100M - Chicago Breaking Business
Caterpillar: Health care bill would cost it $100M
Published on March 19, 2010 7:10 AM | Submit a comment
Dow Jones Newswires | Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House would increase the company's health-care costs by more than $100 million in the first year alone.

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."
Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

The Peoria-based company said these provisions would increase its insurance costs by at least 20 percent, or more than $100 million, just in the first year of the health-care overhaul program.


Comments

Post a Comment

Popular posts from this blog

No one spoke to Blago, except Rahmbo multiple times...

The dominoes keep falling... but he can't talk about it because, well you know, he's dad... Rahm Emanuel Reportedly Spoke with Blagojevich About Senate Seat Conversations with Governor? Chicago -- The firestorm surrounding Governor Blagojevich is putting some heat on Barack Obama’s transition team. Fox Chicago News has learned about possible conversations between a top Obama aide and the governor regarding the open senate seat. Craig Wall has the exclusive.
Read more

Obama at 45% in Rasmussen

Image
Daily Presidential Tracking Poll - Rasmussen Reports™ Daily Presidential Tracking Poll Friday, March 19, 2010 The Rasmussen Reports daily Presidential Tracking Poll for Friday shows that 23% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as President. Forty-four percent (44%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -21. That matches the lowest Approval Index rating yet recorded for this President (see trends). Each time the President leads a big push for his health care plan, his job approval ratings suffer. For Members of Congress, the impact may be more tangible. Just 34% say they’re more likely to vote for someone who supports this legislation. Fifty-percent (50%) are less likely to vote for a Member of Congress who supports the health care reform plan proposed by the President and Congressional Democrats.
Read more