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Senate unit approves stock option curbs in tax cut plan
The Senate Finance Committee backed moderate limits on executive stock options in the $11.1 billion tax cut, amid disclosure Chrysler officials could gain up to 12.1 million from options over six years. Final action expected late month. Lincoln's Birthday recess looms. Gore's bid to repeal favorable tax treatment failed 10-6. Executives would must exercise options within five years and hold shares three years before sale.
MENTIONED IN THIS ARTICLE
Washington
Senate Gop
Everett M. Dirksen
Ilinois
Sen. Dirksen
Senate
House
Gore
Albert Gore
D-Tenn