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Two More Democrats Target Bank Bonuses

February 16, 2010 - by Eric Naing

Two Senate Democrats are throwing another log on the now-annual firestorm over excessive bank bonuses. Earlier this month, Sen. Jim Webb [D, VA] and Sen. Barbara Boxer [D, CA] unveiled a proposal to tax employee bonuses at certain banks and Wall Street firms that received bailout funds from the Troubled Asset Relief Program (TARP). Dubbed the Taxpayer Fairness Act, Webb and Boxer's bill would impose a one-time, 50 percent tax on the bonuses at those firms and banks that exceeded $400,000 la...

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