Health Care Bill Has Quick, Expensive Impact

By March 25, 2010Health Care, Taxation

Reuters, “Deere sees $150 mln hit from healthcare reform“:

NEW YORK, March 25 (Reuters) – Farm equipment maker Deere & Co (DE.N) expects after-tax expenses to rise by $150 million this year as a result of the healthcare reform law President Barack Obama signed this week.

Most of the higher expense will come in Deere’s second quarter, the company said on Thursday. The expense was not included in the company’s earlier 2010 forecast, which called for net income of about $1.3 billion.

Caterpillar Inc (CAT.N) said on Wednesday it would take a $100 million after-tax charge to earnings in the first quarter because the new law will lower its tax deductions

Also, Bloomberg, “Obama Tax’s $14 Billion Charge Starts at Caterpillar

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