Nevada reps vote to recover AIG bonuses

WASHINGTON -- Nevada’s representatives in the U.S. House voted this afternoon to impose a steep tax on individuals who received big bonuses from AIG and other companies that have received federal bailouts.

Reps. Shelley Berkley and Dina Titus, both Democrats, and Dean Heller, a Republican, voted in the majority as the tax bill was passed 328-93.

Heller added that any investigation of the bonuses should not stop with who received them but should also focus on members of Congress and in the administration “who made this possible.”

Republicans have charged the Obama administration and Democrats in Congress were not vigilant in policing the bailout of the American International Group that has received more than $173 billion in government assistance.

“The American public deserves full disclosure, not more political theater,” said Heller.

“Clearly AIG management should have never handed out these bonuses, so now we are taking the steps needed to reclaim millions of taxpayer dollars,” Berkley said.

Titus said the bonuses, which totaled $165 million and were larger than $1 million to some executives, were an insult to families scraping to get by.

“I find it insulting that the CEO of AIG said that his decision to give out these bonuses was ‘difficult,’ “ Titus said in a House speech. “‘Difficult’ is trying to figure out how to keep a roof over your head when you’ve lost your job. ‘Difficult’ is providing for your children when your hours at work have been cut back. “

The bill slaps a 90 percent tax on bonuses paid this year by companies, and their affiliates, that have received over $5 billion in funds through the Troubled Assets Relief Program, the chief bailout program.