NEW YORK
AT&T Inc. said Friday that the charge is to reflect the change
of the tax treatment of Medicare subsidies. Companies say the
health care overhaul, which President Barack Obama signed Tuesday,
will make a subsidy that companies receive for retiree drug
coverage taxable in 2011.
AT&T also says it is looking into changing the health care
benefits it offers to active and retired workers because of the
legislation.
On Thursday, Deere & Co. and Caterpillar Inc. announced similar
charges. Both say the health care law will raise their related
expenses.
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