Word: baucus
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Among Democrats, Max Baucus is known mostly for his apostasies. So crucial was the Montana Senator to passing George W. Bush's tax cuts in 2001 that he was rewarded with a prime spot at the signing ceremony in the White House East Room. Two years later, it was Baucus who helped Republicans pass a pharmaceutical-industry-friendly Medicare prescription-drug bill, even as his party's congressional leadership was shut out of the process. It is understandable, then, that when Democrats took back control of the White House, many in the party were more than a little dismayed about...
...echoed those concerns, arguing that pursuing restitution by other means was preferable. House Ways and Means Chairman Charlie Rangel also opposed using the tax code "as a political weapon" until the Speaker sat on him to write the legislation passed Thursday in the House. Senate Finance Committee Chairman Max Baucus defended his measure, saying that by expanding the pool of bonus recipients to all institutions that have received $100 million from the government, the legislation would likely survive judicial challenge. "We've pushed the constitutional question pretty hard with constitutional experts and we think it's okay," Baucus said...
...House Speaker Nancy Pelosi has said she'd like to see the matter resolved by the end of next week, though Senate Republicans already blocked a vote on Baucus's bill this week. "Other senators need time to consider the bill," Jon Kyl, the third-ranking Republican in the Senate, said on the Senate floor. "The public ought to have a right to review this legislation to make sure it doesn't have any additional loopholes or unintended consequences...
...discovering the bonuses so late, plans to dock AIG that much out of the next $30 billion in bailout funding when it is delivered - which amounts to a mere 0.1% of the total AIG has received. Assorted Senators, from New York Democrat Chuck Schumer to Montana Democrat Max Baucus and Iowa Republican Chuck Grassley, have proposed a number of tax and legal schemes to snatch back the bonus bucks from AIG FP executives - 73 of whom got payouts of $1 million or more, according to New York State attorney general Andrew Cuomo. (Read "Treasury Learned of AIG Bonuses Earlier Than...
...slightly less exacting proposal may be formulated. Senate Finance Committee chairman Max Baucus is looking at "principles" on how his committee should proceed, and all indications are that he will take the lead on crafting legislation. Reid announced that Baucus "will propose legislation - this will be in the next 24 hours - to give this money back to the taxpayers by subjecting the bonuses to severe tax penalties, more than...