It's Amazing How Fast Representatives Can Act FAST When they REALLY WANT to!

Crain's NY
March 19, 2009 2:58 PM

House approves 90% tax on bailout bonuses. The House of Representatives approved a bill to steeply tax big employee bonuses from firms bailed out by taxpayers, including American International Group Inc. and others.

(AP) - Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers.

The vote was 328-93.

Said House Speaker Nancy Pelosi: "We want our money back, and we want our money back now for the taxpayers."

Republicans called it a legally questionable ploy to paper over Obama administration missteps.

Minority Leader John Boehner, an Ohio Republican, said the bill was "a political circus" diverting attention from why the administration hadn't done more to block the bonuses before they were paid.

The bonuses, totaling $165 million, were paid to employees of troubled insurer American International Group Inc., including to traders in the unit that nearly brought about the company's collapse.

LET THE REVOLUTION BEGIN!

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