[Congressional Record (Bound Edition), Volume 155 (2009), Part 6]
[House]
[Page 7591]
[From the U.S. Government Publishing Office, www.gpo.gov]




        RESPONSIBLE CORPORATE EXECUTIVE COMPENSATION ACT OF 2009

  (Mr. DINGELL asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DINGELL. Mr. Speaker, like everybody else in this Chamber, I am 
outraged about AIG. They got $170 billion in taxpayer funds to bail 
them out of a situation which was largely of their own creation. And 
they then made it worse by giving $165 million in bonuses to people who 
had participated in the outrage about which all Americans are so 
infuriated.
  The Federal Government is trying to save this corporation because 
it's too big to fail, but we don't have to save a bunch of money-
grubbing rascals who had a part in the collapse of our economy, which 
they helped to bring about.
  I am introducing a bill today which is going to address the problem. 
It is entitled, the ``Responsible Corporate Executive Compensation Act 
of 2009.'' It will impose a 95 percent tax on bonuses paid to employees 
of TARP recipients.
  I urge my colleagues to cosponsor this bill and help make certain 
that hardworking Americans are not the only ones who have to sacrifice 
during this time of severe economic stress and uncertainty.

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