US lawmakers vote for 90% bonus tax
20-03-2009
The United States House of Representatives has voted to impose a 90 percent tax on bonuses awarded by companies that have been bailed out with government funds. The move follows outrage over the decision by the insurance company, AIG, to award its employees millions of dollars in bonuses after taking $170 billion in aid from the government. The vote was 328-93 in favour of the legislation. "We want our money back and we want our money back now for the taxpayers," said House Speaker Nancy Pelosi, a California Democrat. Bonuses, totaling $165 million, were paid to employees of AIG, 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 margin of victory came despite sharp Republican attacks calling the legislation a legally questionable ploy to paper over Obama administration missteps.
