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White House defends healthcare bill

March 28, 2010 at 4:04 PM   |   Comments

WASHINGTON, March 28 (UPI) -- American businesses "will come out way ahead" as a result of President Obama's healthcare reform law, a senior White House adviser said Sunday.

Responding to reports a number of companies will need to write off large sums of money as a result of the new law, Valerie Jarrett said it would be offset by reduced costs, ABC News reported.

"What they are going to have to write off is nothing compared to the enormous financial benefits to those very same companies by health insurance reform," Jarrett said on the public affairs program "This Week."

"It will bring down their costs substantially. On balance, business will come out way ahead."

One opponent of the new legislation strongly disagreed, ABC reported.

"We've now learned that big corporations are going to have to take $14 billion worth of write-offs ... that nobody knew about," Gov. Haley Barbour, R-Miss., said.

"How many jobs are those $14 billion of losses on corporate balance sheets, how many jobs are they going to cost?" Barbour asked.

"We're going to learn a lot more about this deal ... (and as) people find out these sorts of things, this bill is going to become even more unpopular," he said.

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