from the RNC
Democrats are turning to Chicago-style threats to defend their government-run health care bill. House Energy and Commerce Committee Chairman Henry Waxman (D-CA) sent letters to CEOs of companies who told investors about the new costs they’ll accrue because of the Democrats’ takeover of the health care industry. In addition to a year worth of documentation, Waxman also wants the CEOs to come to Washington D.C. so they can be grilled by his committee. Since Waxman and the rest of the Democrat leadership has spent the last year on a disinformation campaign suggesting their government takeover will lower costs, they’re understandably upset at getting publicly called out.
But these companies have to do it, because publicly-traded corporations can’t quote empty promises from Democrats when dealing with the Securities and Exchange Commission. That’s why AT&T submitted this report in accordance with securities law:
On March 23, 2010, the President signed into law comprehensive health care reform legislation under the Patient Protection and Affordable Care Act (HR 3590). Included among the major provisions of the law is a change in the tax treatment of the Medicare Part D subsidy. AT&T Inc. (“AT&T”) intends to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of this change. As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health care benefits offered by the company.
So who are you going to believe? The executives at AT&T who are required to disclose all potential costs to its shareholders or partisan Democrat Henry Waxman? To learn more about Waxman’s threats, and the range of businesses that’ll be hurt by the Democrats’ anti-business health care legislation, read yesterday’s Health Care Pulse Check, “Chicago-Style Bullying Begins.”
