Word: bille
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Dates: during 2000-2009
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According to a proxy statement Citi filed with the Securities and Exchange Commission, the company finalized its bonus plan on Jan. 14. Twelve days later an amendment barring such payments was inserted by the House of Representatives into the $787 billion fiscal stimulus bill, which went into effect...
...revelations about Citi's bonus plan come at a time when anger over executive pay, particularly in the troubled financial sector, is boiling over. On Thursday, the House overwhelmingly passed a bill that would impose a 90% income tax on all compensation over $250,000 earned by employees at banks that have received more than $5 billion in bailout funds. The Senate is working on its own bill to raise taxes on highly compensated bankers. President Barack Obama indicated he would sign legislation that curtails bonuses...
...Though Brugge said the stimulus package has been a huge morale boost for researchers, she added that there is confusion about certain stipulations in the bill, specifically why the NIH funding requires projects to be completed within two years...
...share of bonuses paid since the start of the year to all employees making more than $250,000 a year at firms receiving more than $5 billion from the government's banking rescue program known as TARP. The Senate next week is expected to take up its own clawback bill, which would tax at a rate of 70% performance bonuses starting at $50,000 and on all retention bonuses given by companies that received $100 million or more in TARP funds. Just for good measure, the House next week is also expected to take up a Judiciary Committee bill that...
...This bill is nothing more than an attempt for everybody to cover their butt up here on Capitol Hill," said House Republican leader John Boehner, one of the few party bigwigs on either side of the aisle to openly question the wisdom of the legislative rush. "It's full of loopholes. A lot of these people who are getting these bonuses likely live in London. And it's not clear how raising this tax is going to recover that money...