House Passes Bonus Tax Bill
After the top brass at AIG couldn't be stopped from dishing out $165 million in bonuses to executives who didn't exactly deserve gold-star treatment, Congress is attempting to recoup most of the money by slapping a 90 percent tax on such executive windfalls.
After the top brass at AIG couldn’t be stopped from dishing out $165 million in bonuses to executives who didn’t exactly deserve gold-star treatment, Congress is attempting to recoup most of the money by slapping a 90 percent tax on such executive windfalls.
Meanwhile, Sen. Chris Dodd is disclaiming responsibility for enabling the AIG bonus debacle by changing the wording of a key section in the stimulus bill passed last month; Dodd says the Obama administration made him do it.
WAIT BEFORE YOU GO...USA Today:
The U.S. House approved a bill Thursday that would impose a new tax on the $165 million paid to bailed-out insurance giant AIG as Senate Republicans stepped up criticism of the Obama administration’s handling of bonuses.
The House measure would apply a 90% tax on bonuses given to employees who earn more than $250,000 at any firm that received more than $5 billion in bailout money.
The vote was 328-93.
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There’s a crucial institution in Washington that few in the media seem to be paying attention to, even as President Trump quietly makes it his own.
A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes." A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes."
A look at the day's political happenings, including AIG's decision on whether to join a lawsuit against the government over the financial crisis bailout and the White House's response to a petition to deport Piers Morgan.
A look at the day's political happenings, including Gabrielle Giffords' new PAC, Elizabeth Warren admonishing AIG and Nate Silver talking politics and data analysis on Reddit.
In the ultimate act of corporate greed, the insurance giant--which received a bailout from the government to the tune of $182 billion--is showing what a truly unscrupulous and morally bankrupt organization it is by mulling whether to join a lawsuit against Uncle Sam over unfair bailout terms.
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