Caterpillar takes $100 million charge, cites health care law

Caterpillar wants to keep the U.S. from taxing a subsidy on retiree drug benefits after President Barack Obama signed sweeping health care legislation into law this week. But the $1 trillion overhaul of the health care industry prompted Caterpillar to take a $100 million charge to earnings this quarter because of additional taxes from the legislation. Disclosures by Cat and another company suggest that the first sets of health care charges might eventually cut as much as $14 billion from U.S. corporate profits.

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