OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Taxing Executive Bonuses Paid By Companies ReceivingTARP Assistance

Floor Speech

Date: March 19, 2009
Location: Washington, DC
Issues: Business and Consumers Taxes

Taxing Executive Bonuses Paid By Companies Receiving TARP Assistance

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Mr. LARSON of Connecticut. I thank the chairman for bringing this important legislation to the floor in all due speed, because it was necessary.

What is at stake here is really the full faith and credit of our system. When those in the private sector and on Wall Street and the great barons of capital can laugh up their sleeves at the American public that sacrifices on a daily basis, who find themselves unemployed, unable to educate their kids, out of work, and we are going to sit idle and allow them to receive these bonuses? This is wrong. And if we expect to govern as an institution, we have to do the extraordinary and set it right.

These are difficult and unchartered waters and unchartered times and it's time for us to act on behalf of the American people.

Thank you, Mr. Rangel.

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