Why should we surprised that the Democrats are calling fortune 500 companies on the carpet. All they will do is yell at the CEOs and belittle them and blame them for all of societies problems. What we won't hear in these hearings is how we can help these companies relocate their overseas production facilities to the U.S. or what these companies need to get more workers working.
By Elizabeth Williamson
Even before AT&T Inc. said Friday that it will take a $1 billion charge in the first-quarter because of the new health-care law, the issue was front-and-center with key lawmakers.
Earlier this week, Caterpillar Inc., Deere & Co., and AK Steel Holding Corp. announced their own hefty one-time charges.
Almost immediately, House Energy and Commerce Committee Chairman Henry Waxman of California and Rep. Bart Stupak of Michigan, chairman of the Oversight and Investigations panel, announced plans to hold an April 21 hearing on “claims by Caterpillar, Verizon, and Deere that provisions in the new health care reform law could adversely affect their company’s ability to provide health insurance to their employees. These assertions appear to conflict with independent analyses, which show that the new law will expand coverage and bring down costs.”
The committee wants the companies’ CEOs testify and provide evidence of the law’s projected impact.