From the Washington Examiner:
A House Energy and Commerce Committee spokeswoman tells me that Chairman Henry Waxman, D-Calif., has indeed cancelled the April 21 subcommittee hearing in which CEOs were to testify about Obamacare. So far, the only indication of this change appears on the committee's website is on the Republican minority ranking member's site. In fact, the hearing still appears on Waxman's committee calendar for that day.
Waxman had called the hearing in reaction to public statements by several companies -- including Verizon, AT&T, and John Deere, among others -- that Obamacare would cost them hundreds of millions or even billions of dollars because it laid a new tax on their retiree health benefit payments.
Ever since the passage of the Medicare Prescription Drug benefit, the payments had been subsidized, tax-free, as a way of preventing these companies from dropping enrolees onto the Medicare rolls. When Obamacare changed the tax rules, it was quite clear that this would result in huge losses, but President Obama and Democrats had failed to heed warnings to this effect in the run up to Obamacare's passage last month.
The CEOs, required by law to be honest about earnings projections, re-stated their bottom lines in reaction to Obamacare's passage, earning the ire of Waxman and other Democrats. Hearings on this matter would likely have proved an embarrassment to them, and helped drag out discussion of Obamacare's unexpected ill effects.
The CEOs should show up anyway, and hold a press conference illustrating all the additional costs and related impacts to their bottom lines and prospects for hiring new employees.