Thursday, March 19, 2009

House passes bill taxing AIG, other bonuses

"The Democratic-led House overwhelmingly approved a bill on Thursday to slap punishing taxes on big employee bonuses from AIG and other firms bailed out by taxpayers."

"The vote was 328-93."

"We want our money back and we want our money back now for the taxpayers," said House Speaker Nancy Pelosi, D-Calif."

"The bonuses, totaling $165 million, were paid to employees of troubled insurer American International Group, including to traders in the unit that nearly brought about the company's collapse."

"In all, 243 Democrats and 85 Republicans voted "yes" on the bill. It was opposed by six Democrats and 87 Republicans."

"The bill levies a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money."

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