It is incredulous that the posturing politicians on the left, who have all stated they read the stimulus bill and castigated Republicans coming out against the Stimulus as not reading the bill, are now crying foul over their own Premier Obamao pushed bill...
While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. The provision, now called “the Dodd Amendment” by the Obama Administration provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” -- which exempts the very AIG bonuses Dodd and others are now seeking to tax. (Fox News)
Across the board residents of Ohio, and the United States are livid over the bonuses being paid out by AIG. Unable to keep the bonuses a secret, the Democrats are now coming out in force against the bonus provisions that they not only supported but pushed for. Guess who we have to thank for casting the deciding vote to protect the AIG bonuses - Ohio Senawhore Sherrod Brown!
H/T to Porkopolis
Brown: AIG Bonus Payments Are Slap-In-the-Face to Hardworking OhioansYep...the same Senator that was shuttled back to Washington D.C. by Obama on a White House provided plane to cast the deciding vote on the Spending Stimulus
March 17, 2009
WASHINGTON, D.C. –U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Banking Subcommittee on Economic Policy, today called on American International Group (AIG) Chairman and CEO Edward Liddy to immediately renegotiate contacts to prevent $165 million in bonus payments to AIG executives.
“AIG’s actions are a slap-in-the-face to hardworking Ohio families,” said Brown. “Bonuses at companies like AIG—companies relying on taxpayer funds to stay afloat—are an outrage. I hope AIG executives voluntarily
return these bonuses. If they don’t, I will push to have them recouped through the U.S. tax code.”...
What's that you ask?...What does the Stimulus Bill have to do with the AIG "slap-in-the-face" bonus payments? It was Brown's vote that put into law the provision guaranteeing the payments (HT: ButAsForMe) (emphasis added):
`SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE...
...`(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such
valid employment contracts are determined by the Secretary or the designee of the Secretary...
Great post by Porkopolis!
As Ohioans are already upset over our high taxes, I cannot believe Brown would have supported these golden parachute bonuses paid for with our tax dollars. With hypocrites like Brown in office, there is no wonder why residents of Ohio have expressed a distrust in our elected officials.