Dems Cancel Hearing on AT$T Health Care GripesDemocratic lawmakers on Wednesday canceled a hearing called to hear concerns by AT&T and other corporations about new employer costs in the health care overhaul, saying the companies now believe the overhaul could ease their costs if implemented properly.
AT&T, Caterpillar, AK Steel and other companies said last month they would be forced to take billions of dollars in writedowns because of changes in how health care subsidies will be taxed.
But Energy and Commerce Committee Chairman Henry Waxman, D-Calif., issued a statement late Wednesday, saying he canceled a hearing scheduled for next Wednesday at the request of several companies that want more time to see how the law is implemented.
"Companies like AT&T, Verizon, and a range of stakeholder associations are hopeful that the benefits of the new law will outweigh the costs," Waxman stated.
Beginning with construction equipment maker Caterpillar, a succession of companies said the health care plan signed into law last month would require them to pay new