Farm equipment maker Deere expects after-tax expenses to rise by $150 million this year as a result of the health care reform law President Barack Obama signed this week. [...]However, Barack 'The Great & Compassionate One' Obama has offered helpful suggestions to corporations like John Deere to keep them viable and competitive with the other industrializing third world economies.
Caterpillar 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. [...]
The law could raise expenses for large U.S. employers. Industrial companies, which typically have large numbers of retirees, may be among those facing the biggest bill. Caterpillar had argued before the legislation passed that health reform would put it at a disadvantage against global competitors.
After listening to the strategic advice from the President, John Deere announced the 2011 line of Deere farm equipment: