Republicans in the Senate block attempts to consider a bill to heavily tax AIG bonuses to recover funds.
Wired PR News – Republicans in the Senate are slowing Democrats efforts to swiftly pass a measure that would impose a hefty tax on bonuses handed out by bailed out companies like AIG. As reported by the Associated Press (AP), Senate Republicans blocked attempts to consider a tax bill that would enable the recovery of the $165 million paid in bonuses by AIG, and other sums paid in bonuses by companies who received federal assistance as part of economic stimulus efforts. The House approved its own version on Thursday.
Republican Senator Jon Kyl is quoted as stating of such a measure, “I don’t believe that Congress should rush to pass yet another piece of hastily crafted legislation in this very toxic atmosphere, at least without understanding the facts and the potential unintended consequences… Frankly, I think that’s how we got into the current mess.”
The Senate is expected to possibly discuss the bill next week before Congressional leaders go on spring break.
