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Dems to grill execs after health-tax whacks

WASHINGTON — Adding insult to injury, Democratic leaders are hauling CEOs from major corporations before Congress to defend writing off billions of dollars because President Obama’s health care overhaul whacks them with a new tax.

Rep. Henry Waxman (D-Calif.), chairman of the House Energy and Commerce Committee, fired off a letter to top executives at John Deere, Caterpillar, Verizon and AT&T, calling them to testify about the announced earnings losses caused by a new tax on retiree drug benefits.

“The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern. They also appear to conflict with independent analyses,” said the letter to AT&T President Randall Stephenson, who announced the company would charge off $1 billion in earnings.

The three other CEOs got letters signed by Waxman and Rep. Bart Stupak (D-Mich.), chairman of the oversight and investigation subcommittee that will grill the executives April 21.

Texas Rep. Joe Barton, the ranking Republican on the committee, said he would not take part in Democrats’ “witch hunt to vilify corporate America.”

“It shouldn’t come as a shock that a bill that re-engineers the health-care system in America would cost private companies money,” Barton said.

smiller@nypost.com