[Congressional Record Volume 155, Number 46 (Tuesday, March 17, 2009)]
[House]
[Page H3448]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 CALLING FOR 100 PERCENT TAX ON ``PERFORMANCE'' BONUSES BY ANY COMPANY 
             IN WHICH THE GOVERNMENT OWNS A MAJORITY STAKE

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute.)
  Mrs. MALONEY. Mr. Speaker, we all know the news yesterday that AIG is 
paying over $100 million in bonuses. I find this an absolute outrage. 
I'm glad the President has directed the Treasury Department to use all 
legal means to restrict these bonuses.
  But we in Congress can actually make the laws, and here's a law we 
should make: Tax the bonuses of any company in which the government 
owns a majority stake at 100 percent. I have introduced this bill 
today--tax so-called ``performance'' bonuses at 100 percent.
  Bonuses are supposed to be given to someone who has done a good job. 
But AIG, as my colleague said, and we've found something we agree on, 
lost over $70 billion in the last quarter. We put in $170 billion of 
taxpayers' money. They don't deserve a bonus. They deserve better 
management. They deserve certainly a restriction on the bonuses that 
they have. And I really applaud President Obama, who said yesterday 
that this isn't just a matter of dollars and cents; it's a matter of 
fundamental values.
  I urge my colleagues to join me in taxing this bonus.

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