Pryor hops on AIG | Arkansas Blog

Friday, March 20, 2009

Pryor hops on AIG

Posted By on Fri, Mar 20, 2009 at 11:17 AM

Sure. Hard to resist this one. Statement from Sen. Mark Pryor:

Senator Mark Pryor made the following statement regarding bipartisan legislation he cosponsored today to discourage excessive bonuses by companies that have taken taxpayer funds under the Troubled Assets Relief Program (TARP). The legislation imposes a 35 percent excise tax on both employers and employees, on retention bonuses and other bonuses. Additionally, the bill caps the amount of income employees of these companies are allowed to defer tax free.


The heads of these companies, most notably AIG, intensified our nation’s financial crisis and then came hat in hand looking for a handout. To prevent a financial collapse, millions in taxpayer dollars was used to stabilize these companies and the economy. We have every right to be outraged that these executives then turned around and rewarded themselves with massive bonuses.  So while I am not a fan of major tax hikes in general, I do believe this use of the tax code is completely justified and necessary to recoup taxpayer dollars. It’s a matter of fairness in the face of outright abuse.

 


Favorite

Comments (9)

Showing 1-9 of 9

Add a comment

 
Subscribe to this thread:
Showing 1-9 of 9

Add a comment

More by Max Brantley

Readers also liked…

  • Hospitality, restaurant groups oppose bathroom bill

    Add the restaurant and hospitality association to those opposed to Sen. Linda Collins-Smith's bill to keep transgender people out of public restrooms that match their gender identity.
    • Mar 16, 2017
  • ADEQ denies C&H Hog Farm permit

    The Arkansas Department of Environmental Quality has denied a new permit for the C&H Hog Farms' concentrated animal feeding operation near Mount Judea (Newton County). This is a big and somewhat surprising victory for critics who have viewed C&H's large-scale pig farm and the pig waste it generates as an existential threat to the Buffalo National River.
    • Jan 10, 2018
  • The two cities of Little Rock: East/west, black/white

    The Little Rock City Board illustrated this week a community divided over public schools, another blow to the Little Rock School District and another illustration of the need for ward elections to the board.
    • Mar 23, 2017

Slideshows

  • Arkansas vs Ole Miss at War Memorial stadium in Little Rock, Saturday, Oct. 13, 2018. After leading for much of the game, Arkansas lost 37-33 when Ole Miss scored the game winning Touchdown with less that 2 minutes left. 
  • Margaret Clark Adventure Park
    New sculptures, preschoolers play area dedicated in Riverfront Park in Little Rock.

Most Recent Comments

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation