The Cost of the Health Care Legislation

Morning Bell: $1 Billion AT&T Headache is Just Obamacare’s First Side Effect

Posted March 30th, 2010

In the closing days of the Congressional health care debate, House Speaker Nancy Pelosi (D-CA) told the National Association of Counties: “We have to pass the bill so that you can find out what is in it.” Today marks the end of just the first week of life under Obamacare and Speaker Pelosi has been proven right: we are just now finding out what is in it. This past Friday, AT&T, the biggest U.S. telephone company, announced that it would take a $1 billion charge against earnings thanks to tax changes buried in the 2,300+ page bill. $1 billion. That is a full third of AT&T’s $3 billion earnings for the fourth quarter of 2009...

http://blog.heritage.org/2010/03/30/morning-bell-1-billion-att-headache-is-just-obamacares-first-side-effect/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell