U.S. CONGRESSMAN JOHN SHADEGG REPRESENTING THE 3RD DISTRICT OF ARIZONA

WASHINGTON, D.C. – Congressman John Shadegg (AZ-03) issued the following statement today in reaction to Energy and Commerce Committee Chairman Henry Waxman’s (D-CA) decision to drag America’s largest employers before Congress for disclosing the true cost of Obamacare:

“America’s largest job creators are already paying the price for the massive costs imposed by the health care bill forced down the throats of the American people exclusively by Washington Democrats.  

“We have learned that AT&T, John Deere, Caterpillar, 3M, Valero, and others will sustain and have disclosed billions in losses because of tax increases on prescription drug coverage forced onto their balance sheets by Obamacare.

“By law, these companies must disclose their losses on reports filed with the Securities and Exchange Commission.  They have a fiduciary duty to reveal this information.  Yet, Energy and Commerce Committee Chairman Henry Waxman has summoned these companies to Washington to condemn them for stating the simple truth: this bill will cost us billions more than Democrats claimed.  

“It is clear from the health care debate that President Obama, Speaker Pelosi, and Leader Reid have no shame in hiding the cost of their massive new government-run health care program.  And now, they are trying to silence American businesses that are telling us the true cost of this bill.  The abuse of power is breathtaking.”

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