AT&T, Caterpillar, John Deere, 3M, Valero, and others have said the new health care reform bill removes a deduction that will hurt their bottom line. In troubled economic times, news such as this does not translate into new jobs with more benefits.
From Marketwatch:
Yet companies that still offer retiree drug benefits, mostly older industrial concerns or those with unionized employees, say the end of the deduction could force them to alter their benefit plans. In other words, they might curtail or even cancel them.
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