Republicans Vow to Slow Bonus Bill

[firedupdem]

http://www.cqpolitics.com/wmspage.cfm?docid=news-000003080049


Despite congressional fury, the House-passed bill that would slap a 90 percent tax on employee bonuses paid this year by companies receiving substantial bailout money faces an uncertain future in the Senate, where a group of senior Republicans has vowed to slow its progress.

“If legislation is going to be proposed, who all should it apply to? Can it be written in a broad enough fashion to not violate the Constitution?” asked Senate Minority Whip Jon Kyl , R-Ariz. “Until we have hearings and understand all of this, we’re not going to know what kind of fix to implement.”

Kyl blocked an attempt by Majority Leader Harry Reid , D-Nev., to bring up the bill via unanimous consent in the Senate on Thursday afternoon. Senate Democrats indicated Thursday that they expected to pass legislation before the spring recess.

Despite vehement criticism by some Republicans, the House passed the legislation, deemed by many to be unconstitutional, on a 328-93 vote.

The House bill (HR 1586) is the first legislative response to the public outrage over the compensation practices of American International Group Inc. It targets a narrow group of individuals, topped by executives and other employees at AIG, on the receiving end of $165 million in bonus checks.

snip

Opposition a ‘Gift’?

But Democratic leaders spent the morning preparing blast e-mails to the home districts of GOP lawmakers who voted against the legislation.

“It would be a gift if voted against it,” a senior Democratic aide said before the vote.

[Demeter]

1. What Are You Going To Stop It With, Kyl?

The filibuster won't hold against this Katrina.

[Deep13]

2. translation...

Republicans vow to prolong the recessession by defending selfishness and parasitic greed.

[firedupdem]

3. They can't figure themselves out or what their positions are....

we shouldn't interfere with these companies, we should, bonuses are good, bonuses are bad!

We're confused!!

jerks!

[Jennicut]

5. Seriously, they have been all over the place with this.

A further step to irrelevancy.

[Fovea]

6. Too bad Frank Capra isnt alive to film their 'heroics'

Maybe John Waters is available.

[treestar]

4. We can't have them feeling punished for their success

:sarcasm:

[Eric J in MN]

7. ' Can it be written in a broad enough'?

They should broaden the bill to cover all compensation above $400,000/year at a firm which received any bailout money.

(The actual bill deals with bonuses over $250,000 at firms which received over $5 billion in bailout money.)

[firedupdem]

8. I wonder if this thing will ever pass? It's very interesting to see who

votes NO on it. The rethugs are being exposed!

[Phx_Dem]

9. Good. It seems like a gift to me!

If it doesn't make it through the Senate, we can blame Republicans. At the same time, it might be a good thing if it doesn't make it because then Obama doesn't have to sign it. I'm all for getting the money back, but this seems like it might be badly crafted bill.

It's a little hard to imagine this hastily written bill will make it through the courts. I'm not lawyer, but it's so narrowly written as to target such a small group of people, it seems like it might be a stretch to pass the "equal protection" clause in the Constitution. And does it even include an end-date for these taxes when the TARP funds are repaid? If it does include an end date if TARP is paid back, and passes Constitutional muster, then I fully support it.