Based on the Bonus Crisis of AIG, the House passed a bill to impose a new tax on executives who received any amount as bonus working in those companies who received assistance from US government during the recent economic crisis. The bill was passed with the vote of 328-93. US President Barack Obama give his positive impression regarding the bill.
Obama said in a statement " I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated."
But, John Boehner, the Republican Leader of The House mentioned the total process of House to pass the bill "Political Circus" and gave his vote against the bill along with 6 Democrats. But his 85 fellow Republicans also support the bill with 243 Democrats.
With this bill, US government will impose a 90% tax on bonus amount given to employees with family income above $250,000 at AIG and other companies who received at least $5 billion as government assistance.
The vote was conducted just after a 40 minute long debate. The total process indicates how quick the House can react on something when their exist some common political will among the members of the House.
During the last week, the insurance giant AIG announced the bonus totaling $165 million for its employees. AIG has received $182.5 billion from Obama's administration as assistance. At present, US Government hold the 80% of AIG's ownership.
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