Dems On Business' HCR Cost Claims: Prove It

[babylonsister]

Dems Scrutinize Business, GOP Claims That Health Care Will Cost Corporations Millions
Brian Beutler | March 29, 2010, 1:20PM


The ink on the health care law President Obama signed last week hadn't even dried when Republicans and business reporters picked up on a striking claim from some of the nation's biggest corporations. The legislation, they say, will cost them hundreds of millions of dollars this year, thanks to the elimination of a major tax deduction -- but that's a claim the Democrats aren't taking at face value.

Republicans instantly glommed on, using figures released by the companies as part of their ongoing efforts to portray the bill as a jobs killer. "{W}e heard from Caterpillar this week; $100 million it's going to cost them just this year," warned Rep. Louie Gohmert (R-TX) on the House floor Sunday--one of several House Republicans to attack the bill for hurting employers.

There are a couple of problems, though.

The provision upon which they're basing this claim closes a loophole written into Medicare Part D legislation when Republicans controlled Washington. And though the change will cost the companies a small amount of money each year, it doesn't take effect until 2013--the figures the companies released last week reflect the total sum of the costs over several years. And as a result, House Energy and Commerce Chairman Henry Waxman has welcomed executives from these companies to defend their claims on Capitol Hill.

more...

http://tpmdc.talkingpointsmemo.com/2010/03/dems-scrutinize-business-gop-claims-that-health-care-will-cost-corporations-millions.php?ref=fpb

[rfranklin]

1. I say give them the tax break...

if they can create 20 million high paying jobs with benefits that are guaranteed to last for the next ten years. And we will not accept some half-assed promises. If they fail, they forfeit their salaries, perks and stock options for that period of time. (We'll hold it all in escrow for them.)

Otherwise, STFU.

[rocktivity]

2. Wrong thread, please delete n/t

.