WKYT | Lexington, Kentucky | News

Congress to Vote on Tax of AIG Bonuses

WASHINGTON (AP) - House Democrats say executives who got big
bonuses while their companies took billions in bailouts should get
a visit from the taxman.
Venting their outrage, lawmakers are preparing to slap heavy
taxes on employee bonuses at insurance giant AIG and at other
companies that have received large government payouts.
The House is scheduled to vote today on a bill that would levy a
90 percent tax on bonuses paid to employees with family incomes
above $250,000. The measure would apply to companies that have
received at least $5 billion in government bailout money.
New York Democrat Charles Rangel, chairman of the tax-writing
House Ways and Means Committee, says sponsors "figured that the
local and state governments would take care of the other 10
The Senate has announced its own bill.

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