New Taxes on AIG Bonuses

In the dispute over million-dollar bonuses for employees of financial corporations tighten U.S. politicians to accelerate: The House of Representatives will on Thursday vote on a law with which a large part of the disputed premiums to be recovered. It provides a 90-percent special tax on bonuses of managers, whose income is over 250,000 $. The rule should apply to all firms at least $ 5 billion state aid received.

The law is a direct response to public outrage that erupted late last week was after it was revealed that the once world’s largest insurer AIG premiums of $ 165 million is distributed. AIG is a maximum of $ 180 billion from the U.S. government supported and is now 80 percent owned by the state. The dispute over the payments will become shriller: AIG CEO Edward Liddy reported on Wednesday in a hearing before the Congress of death threats against employees of the insurer. Some have at least a portion of their bonuses meanwhile returned.

The special tax is proposed by the Democrats pushed. Your Majority Leader in the House of Representatives, Steny Hoyer, was a clear majority for the Bill, the two-thirds majority, and hence the need for consent of Republicans. Leading opposition politicians have expressed, however, have not been to the template.

The businesses affected by the tax, according to the Steuerpolititk responsible for Ways and Means Committees in the House of Representatives so far disbursed three-fourths of the state aid received. The Senate is working on a similar revision: Companies and employees should have a tax of 70 percent to pay bonuses. A date for a vote, there is not.

The Congress has in the debate over the helm after U.S. Treasury Secretary Timothy Geithner Members had indicated by letter that it was “legally difficult, AIG at the distribution of premiums to prevent.

The outrage over the payments threatens the efforts to support the financial markets the Government of President Barack Obama to undermine. In the heated atmosphere should therefore be very difficult for new approval steps – such as buying risky securities – to get. Especially Geithner is in the criticism. But the dwindling support for Obama.