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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RNC Chairman Michael Steele Delivers Weekly Republican Address

"This is Michael Steele, Chairman of the Republican National Committee. Democrats have controlled both branches of government for less than a month. And you have to wonder if all that power has gone to their heads.

"For the last two weeks, they've been trying to force a massive spending bill through Congress under the guise of economic relief.

"All of us - Republicans and Democrats - agree the government must act to kick-start the American economy. American families are doing their best to balance their own budgets and pay their mortgages.

"The fastest way to help those families is by letting them keep more of the money they earn. Individual empowerment: that's how you stimulate the economy.

"But the Democrats have a different philosophy. Instead of leaving money in the family checkbook, they want to send it to Washington, run it through a slow and inefficient government, and hope that does some good.

"When families keep the money, they spend it, save it, or invest it. And the private sector economy benefits when families and businesses buy consumer goods or invest it for the future. But when Washington spends the money, some of it may flow into the economy, but all too often, much gets wasted.

"Democrats in Congress want a one-trillion dollar spending bill. You've heard about the pork-barrel programs they want to fund... 45 million dollars for ATV trails and removal of fish passage barriers is one that caught my eye. Exactly what is a fish passage barrier and why does it cost 45 million dollars to stimulate the economy with it?

"That's why Republicans in the House voted against uncontrolled spending. This is not a bragging point, but rather a statement that at least Republicans would stand with the American taxpayer.

"But voting 'no' is not enough... and Republicans have offered innovative ideas to help struggling families and small businesses. We've offered plans to spark job creation and investment through lower taxes, to stop the taxation of unemployment benefits, and to help Americans keep their jobs and their homes.

"The comprehensive Republican plan would lower taxes for all working American families. If you're married, the first 16,750 dollars you make this year will be taxed at ten percent. Why don't we cut that rate in half to give instant buying power to every working American family?

"Good ideas... lots of them... all left out of this plan by the Democrats in Congress.

"Republicans stand ready to work with reasonable Democrats to do what is right for America.

"But it will take more than bipartisan words from the President. It will require fair-minded action from Democrats in Congress.

"Thanks for listening."

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