Lincoln, Neb. – Representative Lee Terry cast a vote yesterday against taxing excessive bonuses of executives of AIG. “This is certainly an about face for Representative Terry, who is now speaking out both sides of his mouth,” said Jim Rogers, Executive Director of the Nebraska Democratic Party. “It wasn’t more than a week ago that Terry was applauding President Obama to use ‘every legal avenue to stop the bonuses at AIG’”.

The house vote; H.R. 1586 To impose an additional tax on bonuses received from certain TARP recipients, Roll call 1432, passed by an overwhelming majority of Congress. Terry was joined by 86 other Republicans who voted against the measure. Representative Smith joined Terry in voting against, H.R. 1586, while Representative Fortenberry voted with the majority.

“In a broad stroke of bipartisan support to help American taxpayers recover bonuses paid to the very executives that brought AIG to near collapse, Terry sang a different tune and voted to protect those receiving millions of dollars in bonuses for their failures,” Rogers continued. “It is clearly an example of how out of touch Terry is with the people of Nebraska, the taxpayers of America, and the absolute outrage over these bonuses being paid to companies that are recipients of hard-earned taxpayer dollars.”

Background
1.Lee Terry Press Release, March 16th, 2009
2.Terry Voted Against Taxing Bonuses Paid to AIG Executives and other Companies Receiving Federal Assistance

WASHINGTON- Congressman Lee Terry (R-NE) issued the following statement after President Barack Obama today asked Treasury Secretary Timothy Geithner to block AIG bonuses to employees from taxpayer bailout funds:

“AIG is showing a lack of sensitivity to the U.S. taxpayer who fronted dollars to rescue the company from failure. I expect more from companies like AIG. An executive who takes a bonus and then defends it as saying it was ‘owed’ to them is a disgrace. I commend President Obama for pledging to use every legal avenue to stop the bonuses at AIG.”

Jim Rogers, Executive Director
NE Democratic Party
(402) 434 – 2180

NDP

– by Lisa Olivares | Send this to a friend