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House to vote on taxing AIG bonuses
Lawmakers move to impose a 90 percent tax on bonuses for employees earning over 250 000 at firms with at least 5 billion in bailout aid including AIG Fannie Mae and Freddie Mac. AIG's Edward Liddy testified about 165 million in bonuses paid to 400 Financial Products staff and said some recipients have begun returning portions. President Obama said the buck stops with him and discussed new resolution authority to seize troubled giants.
MENTIONED IN THIS ARTICLE
Washington
AIG
House
Charles Rangel
New York
Ways and Means
Rangel
Fannie Mae
Freddie Mac
American International Group Inc
Edward Liddy
Liddy
Senate
Senate Finance Committee
Barack Obama
Obama
Congress
Resolution Authority
Treasury
Timothy Geithner
Sen
Charles Grassley
Iowa