The House Financial Services commitee on Thursday adopted a milder alternative to a bill passed last week that would have taxed away 90 % of employee onuses from companies getting federal bailout money. The new legislation would let bailed-out companies pay bonuses as long as the government determines the compensation is not "unreasonable or excessive". Just what is unreasonable or excessive would be determined by financial regulators and the Treasury Department
The Senate, meanwhile, has put on hold a bill that would tax away about 70 % of the employee bonuses at AIG and the other companies getting more thatn $100 million in bailout money.
by the associated press
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