Akin, Graves and Luetkemeyer just voted to preserve AIG bonuses
The House of Representatives just voted to impose a 90 percent income tax on $165 million in bonuses distributed to AIG. The measure passed 328 to 93. Representatives Akin, Graves and Luetkemeyer all voted to preserve the AIG bonuses.
Seriously.
Here's the summary from Politico.com:
The measure would impose a 90 percent tax on any bonuses paid to top executives at these firms after revelations that AIG paid its executives $165 million in bonuses this year.
The Senate is operating on a parallel track this week crafting a heavy surtax on virtually all bonuses for employees at companies that received federal bailout funds.
The legislation would affect any financial firm receiving more than $5 billion in federal funds from the Troubled Asset Relief Fund. It would only pertain to employees whose total family income exceeds $250,000 per year, and would cover all bonuses received after Jan. 1, 2009.
Good luck trying to explain this one, boys.
Update: While Roy Blunt voted to return much of the bonus money to the company's owners (you know, us), he did so very reluctantly.


