ObamaCare Costs AT&T $1 Billion Out the Gate

First it was John Deere and Caterpillar’s announcement that ObamaCare would raise their expenses $150 million in the first year, and then it was AK Steel announcing a $31 million dollar hit as a result of ObamaCare. Now it’s AT&T announcing a $1 billion dollar ObamaCare expense in the first quarter.

From Bloomberg:

AT&T, the U.S.’s largest telephone company, said it will book a $1 billion first-quarter expense related to the health-care law signed this week by President Barack Obama.

[snip]

“As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health-care benefits offered by the company,” the company said in the filing.

Fact: The more employees a company has, the greater the increase in their expenses as a result of ObamaCare.

That ought to have an interesting effect on the employment picture.

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