13 Firms Receiving Federal Bailout Funds Owe $220M in Back Taxes

[cal04]

http://hosted.ap.org/dynamic/stories/B/BAILOUT_DELINQUENT_TAXES?SITE=MITRA&SECTION=HOME&TEMPLATE=DEFAULT

At least 13 firms receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.

Rep. John Lewis, chairman of a House subcommittee overseeing the federal bailout, said two firms owe more than $100 million apiece.

"This is shameful. It is a disgrace," said Lewis, D-Ga. "We are going to get to the bottom of what is going on here."

The House Ways and Means subcommittee on oversight discovered the delinquent taxes in a review of tax records from 23 of the firms receiving the most money, Lewis said as he opened a hearing on the issue.

[tridim]

1. No big deal, it's ONLY $220 Million.

I'm sure that's what we'll hear on the MSM.

[Obamanaut]

2. Well, we hear that about earmarks also "It's only 1% of the total." nt