US bankers face 90% bonus tax as politicians push through new law
Accountancy Age, 20 Mar 2009
US politicians are rushing through legislation that would hit bankers with a 90% tax on their bonuses.
The law going through Congress will affect any employees of any company that has received more than $5bn (£3.4bn) in money to rescue it. Any employee with a gross income of more than $250,000 who was paid a bonus this calendar year would face a 90% tax on it, reported the FT.
The bill is being pushed through after it was revealed that AIG has paid out $165m in bonuses, having received over $170bn of public money to rescue the insurance group.
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