By Jay Heflin - 04/01/10 05:35 PM EDT
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.