The Senate won’t be debating the bill to tax executive bonuses which passed the House. At least not anytime soon.
Despite the public outcry over $165 million in bonuses awarded at troubled insurer AIG, Senate Majority Leader Harry Reid (D-Nev.) showed little inclination Monday to bring the explosive issue to the floor this week or next. Instead, Reid is likely to delay action on executive compensation until late April, after the Senate returns from a two-week recess starting April 4.
Once the government can start taking over companies I guess the point will be moot. Unless of course our inept Congress passes bills that allow bonuses because they didn’t take the time to read them. Regardless, they have better things to do.
Reid told colleagues that they would spend this week instead debating legislation to promote national service and volunteering, a process that could last well into the weekend.
Welcome to the Brave New World.
I think that our Senators are having second thoughts regarding the Constitutionality of the “Bonus Bill”. I know that Americans are outraged over the concept of rewarding the very people that put AIG into this mess to begin with but this speaks to the intelligence of the Management Team both at AIG and Washington. First, AIG should have tied any bonus to performance! Second, our Washington management team should have never involved itself with the management (BAILOUT)of any company. There are already fairly straight forward laws and regulation covering this called Chapter 7 or Chapter 11 Bankruptcy proceedings. While all of us are outraged over the actions of both, we should never violate the principals of the Constitution to express it.
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[...] Senate Shelves Bonus Tax Bill The Lonely Conservative Posted by root 12 minutes ago (http://www.lonelyconservative.com) Mar 24 2009 the senate is shelving the bill that would tax executive bonuses at 90 website your comment submit comment reset form american tea party anthem good news theme preview is proudly powered by wordpress Discuss | Bury | News | Senate Shelves Bonus Tax Bill The Lonely Conservative [...]
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