Two congressmen are requesting that Caterpillar, Deere and two other companies provide evidence to support costs the companies say they will incur because of the new health care law. U.S. Reps. Henry Waxman, D-Calif., and Bart Stupak, D-Mich., said in a letter to executives that their plans to record expenses against earnings as a result of the law contradict other estimates and they want the executives to appear at hearing on April 21. Deere claims the new health care law would increase its expenses by $150 million this fiscal year, while Caterpillar expects to record a charge of about $100 million in the first quarter of 2010.

Related Summaries