Company Voices Concerns in a Letter to the Speaker of the House

Caterpillar Blasts Health Care Plan

By WEEK Reporter

July 15, 2010 Updated Mar 19, 2010 at 9:10 PM CDT

Caterpillar Incorporated is voicing its opposition to the healthcare reform bill.

In a statement, the Company says the plan would increase it's health care costs by more than 100 million dollars in the first year alone.

Caterpillar sent a letter to House Speaker Nancy Pelosi urging lawmakers to vote against the plan.

Cat maintains the bill as proposed would place a substantial cost burden on Company shareholders, employees and retirees.

The legislation would--among other things--require nearly all companies to provide health insurance for their employees or face large fines.

Cat says the provisions would increase its insurance costs by at least 20 percent.

Not everyone locally shares Caterpillar's position.

A group called the Campaign for Better Healthcare is rallying this afternoon at 5-30 in front of the Federal building in Peoria.

The group says the reform bill is the right step toward equal and affordable healthcare for all Americans.

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