3/19/2009

in

The House passed a bill today to impose a tax to help recoup AIG bonuses.

Whitney Luce

Following enormous public backlash, the U.S. House of Representatives approved legislation today to recoup most of the $165 million in bonuses paid to AIG employees, according to Reuters.com.  
  
The backlash occurred after AIG received a government bailout of up to $180 billion. Today, the house voted 328-93 in favor of a bill, which will impose a 90 percent tax on bonuses for executives earning more than $250,000, Reuters.com reports.  
  
The tax will apply to executives of any company, which received at least $5 billion in government bailout money.