An association representing 300 large corporations on Monday urged President Obama and Congress to repeal a provision of the recently enacted health care bill affecting retiree benefits that they say will result in substantial charges for the current quarter. According to the New York Times:

“The association, the American Benefits Council, said the provision–which reduces the tax deductions for companies with drug coverage for their retired employees–would deal a significant blow to corporate profits and would discourage companies from hiring more workers.”

Read the full New York Times story here:

http://www.nytimes.com/2010/03/30/business/30subsidy.html?th&emc=th

An association representing 300 large corporations on Monday urged President Obama and Congress to repeal a provision of the recently enacted health care bill affecting retiree benefits that they say will result in substantial charges for the current quarter. According to the New York Times:

“The association, the American Benefits Council, said the provision–which reduces the tax deductions for companies with drug coverage for their retired employees–would deal a significant blow to corporate profits and would discourage companies from hiring more workers.”

Read the full New York Times story here:

http://www.nytimes.com/2010/03/30/business/30subsidy.html?th&emc=th