Two more companies expect tax increases from healthcare law

The Goodrich Corporation and Illinois Tool Works Inc. on Thursday announced tax increases of $10 million and $22 million, respectfully, because of the new healthcare law.  

The increases stem from the companies no longer being allowed to deduct from their taxes prescription drug subsidies. 

Goodrich is a Fortune 500 company and expects the charge will dilute stock shares by 8 cents.

ITW is a multinational corporation with interest in a number of industries and $13.9 billion in revenues. It expects the tax charge to dilute its share price by 4 cents.

The companies join a growing list of businesses that expect to pay more in taxes because of the law. 

Boeing on Wednesday announced a $150 million tax charge because it can no longer deduct the subsidy from its taxes. AT&T expects a $1 billion charge. Caterpillar and John Deere have predicted tax increases of $100 million and $150 million, respectfully. 3M expects to pay roughly $87 billion more in taxes because of losing the deduction. 

Earlier today, Commerce Secretary Gary Locke in an op-ed piece in The Wall Street Journal called out these companies for being "disingenuous" in arguing that the rescission of the tax deduction would cause their taxes to jump.