[Congressional Record (Bound Edition), Volume 156 (2010), Part 1]
[House]
[Page 9]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               H.R. 4414

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. I have introduced H.R. 4414, the Responsible Bankers 
Act of 2010. Now, many of you know I voted against both pieces of TARP 
legislation.
  It is time that America got their money back and imposed a 75 percent 
tax on the bonuses that bankers are planning to pay themselves using 
windfall profits earned from massive taxpayer support of the financial 
services industry. The Responsible Bankers Act will not penalize banks 
for making a profit but, rather, will tax the bonus pools that are set 
aside.
  As I pointed out a month ago, bankers are preparing to pay themselves 
record bonuses, rather than lending and investing in American 
prosperity. They should use their profits, and they could use their 
profits, to do many things to improve the prospects of the American 
economy, like strengthen their capital base, reduce fees charged to 
customers, or increase lending to small and medium-sized companies. 
Well, they are not doing that. They are hoarding it. They are using the 
money to try to take over other banks.
  H.R. 4414 draws on the movement that is happening right now in the 
U.K. and around the world, where people are waking up that if banks are 
not there to help with the economy of the Nation, then they should have 
to pay a serious tax on their bonuses.

                          ____________________