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Friday
Mar192010

HC Bill Would Cost Caterpillar $100M In First Year Alone!!!

Following are the contents of a letter that Caterpillar sent to Pelosi and Boehner yesterday. Get ready to be angry... again.

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.

"We can ill-afford cost increases that place us at a disadvantage versus our global competitors," said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. "We are disappointed that efforts at reform have not addressed the cost concerns we've raised throughout the year."

Business executives have long complained that the options offered for covering 32 million uninsured Americans would result in higher insurance costs for those employers that already provide coverage. Opponents have stepped up their attacks in recent days as the House moves closer toward a vote on the Senate version of the health-care legislation.

A letter Thursday to President Barack Obama and members of Congress signed by more than 130 economists predicted the legislation would discourage companies from hiring more workers and would cause reduced hours and wages for those already employed.

Caterpillar noted that the company supports efforts to increase the quality and the value of health care for patients as well as lower costs for employer-sponsored insurance coverage.

"Unfortunately, neither the current legislation in the House and Senate, nor the president's proposal, meets these goals," the letter said.

Hopefully it's not too late, but if Americans continue to vote for traitorous Democrats, they will eventually destroy us. That's just a fact.

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Reader Comments (4)

This bill has as much to do with health care as Obama has to do with competent governance. Exactly zero.

March 19, 2010 | Unregistered CommenterDTR Patriot

Wow! Where did you come up with the Caterpillar "Tractor Co." stock certificate? They've been Caterpillar Inc. since 1896. Nice touch though.

I visited
http://www.chicagobreakingbusiness.com/2010/03/caterpillar-health-care-bill-would-cost-it-100m.html
and you should get a load of all the liberals that pooh pooh $100 million. Socialism is a disease, and it appears to be spreading out of control.

March 19, 2010 | Unregistered CommenterBruce

Bruce, the chasm between left and right is widening on a daily basis. It's like we almost can't coexist any longer. It doesn't speak well for the future of the union. Hardened leftists are simply impossible to reason with.

March 19, 2010 | Registered CommenterChuck (FL Pundit)

You people at Caterpillar are in part to blame for this, remember when you were dancing
the socialist samba with President Zero as the stimulus dollars poured in and all your
praise for this moron gave him courage to slam full speed ahead.....This moron will put
all of us in deep hokey and send America into a tidal wave of destruction....
A man once said, you only get out of life what you put into it..He evidently wasn't a
Liberal.....

March 19, 2010 | Unregistered CommenterGeorgiaDawg

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