Private Employers Push To Repeal Retiree Drug Tax

Law360, New York (March 30, 2010, 1:10 PM EDT) -- A coalition of major private-sector employers are fighting to roll back a provision in recently enacted health care legislation that reduces retiree drug subsidy tax consideration, which some members, including AT&T Inc., claim could force them to take massive charges and cut retiree benefits.

The American Benefits Council — a national trade group for private employer benefit plan sponsors — on Monday called for a complete repeal of a provision that closes a so-called loophole in the Medicare Prescription Drug Improvement and Modernization Act by taxing...
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