Thursday, March 19, 2009

House Republicans' AIG Bill Will Recover 100 Percent of the AIG Bonuses Immediately; Democrats' Bill? Some of It ... and Maybe In a Year

Prior to today’s debate on the Democrats’ half-hearted attempt to recover some of the AIG executive bonuses a year or more from now, House Republicans will move to force a debate and vote on legislation to get 100 PERCENT of taxpayers’ money back IMMEDIATELY.
Let’s be honest. The legislation House Democrats are bringing to the floor today, which they claim is the best way to recover the AIG bonuses, is a sham. In a perfect world, it would lead to partial recovery of the bonuses a year or more from now – when the executives get around to paying their income taxes. And because the legislation is so riddled with loopholes, it wouldn’t even lead to the recovery of all of the bonus dollars.

How is that a fair deal for taxpayers?

Don’t taxpayers deserve to get 100 percent of their money back?

After all, they aren’t responsible for the AIG executives getting the $165 million; Democrats in Congress and the Administration are. They’re the ones who rushed through the trillion-dollar “stimulus” spending bill that allowed the bonuses to be paid in the first place.

House Republicans are committed to being the party of better solutions, and the Democrats’ AIG mess is no exception. That’s why Reps. Erik Paulsen (R-MN), Leonard Lance (R-NJ), and the rest of their freshman GOP colleagues have introduced a better – and quicker – way to recover 100 percent of the AIG bonuses. Their bill would allow taxpayers to recover 100 PERCENT of the AIG bonuses IMMEDIATELY – not some of the money a year or more from now.

Will House Democrats allow a vote on the GOP bill to get 100 PERCENT of taxpayers’ money back IMMEDIATELY? Or will they continue to provide political cover for their fatally-flawed “stimulus” bill that allowed the AIG bonuses to be paid?

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