Sen. Christopher Dodd, D-Conn., said Wednesday Obama administration officials pressured him to add language to the stimulus package last month that made sure contracts for bonuses at companies receiving federal bailout money stayed in place to avoid lawsuits.
By Trish Turner - FOXNews.com - March 18, 2009
Sen. Christopher Dodd, D-Conn., said Wednesday the Treasury pressured him to add language to the stimulus package last month that made sure contracts for bonuses at companies receiving federal bailout money stayed in place.
Dodd told cable news organizations that Obama administration officials feared the government would face numerous lawsuits if the language was not included.
Meanwhile, Sen. Ron Wyden, D-Ore., all but pointed the finger of blame directly at the "Obama economic team" Wednesday for allegedly stripping a provision from the stimulus package last month that would have slapped a heavy tax on bonuses like the ones doled out at AIG.
Though lawmakers are now trying to recoup some of the $165 million in bonuses through taxation, Wyden and Sen. Olympia Snowe, R-Maine, had included a provision to tax executive bonuses at 35 percent in the stimulus -- it was later stripped.
Asked to whom he spoke with back in February when he was fighting to keep the item, Wyden said, "Secretary Geithner, Larry Summers, and I'll leave it at that." (continues...)
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