WASHINGTON – Financial institutions that received federal bailout money and paid large executive bonuses would be required to compensate taxpayers under the economic stimulus bill approved by the Senate.
The $838 billion measure includes an amendment penalizing companies that paid bonuses greater than $100,000 to executives after receiving government rescue funds last year. The amendment would require the companies to repay within four months any portion of the bonus above $100,000 or face an excise tax of 35 percent on the portion of the bonus above $100,000.
The Senate approved the stimulus bill 61-37 on Tuesday, setting up negotiations with the House, which passed a slightly different version last week.
Uh; when do I get my check so I can stimulate my mind; I mean the economy?
Randall Watson
Chicago Funnies
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