20 March 2009
The US House of Representatives has voted to impose a 90% tax on bonuses awarded to executives from companies which receive large amounts of federal bailout money, such as AIG.
James Coomarasamy in Washington
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After the shouts of rage from Congress, this was a vote that reflected the public anger over the AIG bonuses. Eighty-five House Republicans joined with Democrats to approve a 90% tax on bonuses awarded to high-earning employees from bailed out companies.
This was despite opposition from Republican leaders, who argued that the measure was intended to divert attention away from questions about the administration's handling of the affair.
The tax, which the Senate will now consider, would apply to anyone earning more than $250,000 and firms receiving over $5bn of public money.James Coomarasamy, BBC News, Washington
Click to hear the words:
- shouts of rage from
- anger publicly expressed by
- showed, was a sign of
- money received in addition to normal pay, usually as a reward
- to approve
- here, to introduce, to officially confirm
- bailed out companies
- companies that have been given money from public funds in order to stop them collapsing
- the measure was intended
- the real aim of this move was
- to divert attention away from
- to make the general public think of something other than
- handling of
- way of dealing with, tackling
- give its attention to - in order to make a decision