AIG may give back bonuses in taxes - KWWL - Eastern Iowa Breaking News, Weather, Closings

AIG may give back bonuses in taxes

Posted:

(NBC) -- AIG executives may have gotten the bonuses, but now they may just have to pay a huge tax on that money.

The House of Representatives voted overwhelmingly yesterday to levy heavy taxes on those big employee bonuses at any firm getting government bailout money.

That includes troubled insurer America International Group, where bonuses totaled 165-million dollars.

The measure imposes a 90 percent tax on every payout, and state and local taxes could also add up to another ten-percent.

The measure now moves to the senate.

Powered by Frankly