Press Releases

Luetkemeyer Opposes Tax Increases to Cover Up Administration's Approval of AIG Perks; Supports Real Solutions to Protect Taxpayers and Recover Squandered Bailout Money

Washington, DC, March 19, 2009
U.S. Rep. Blaine Luetkemeyer (MO-9) issued the following statement on his vote today against legislation that raises taxes to try and cover up the Administration's support for AIG bonuses contained in the so-called stimulus package:
U.S. Rep. Blaine Luetkemeyer (MO-9) issued the following statement on his vote today against legislation that raises taxes to try and cover up the Administration’s support for AIG bonuses contained in the so-called stimulus package:
“It is a disgrace that the very same people who hastily approved a massive spending bill they knew contained $165 million in taxpayer-financed bonuses for AIG executives are now trying to cover it up with false outrage and tax increases.  I am also extremely troubled that this bill opens the door for selective government taxation of individuals, which is constitutionally questionable at best. I co-sponsored legislation to force 100 percent of the money to be paid back immediately, but the majority – the ones that allowed this situation to happen in the stimulus – is now trying to recoup only 90 percent of the money. With this legislation, the Administration and liberal majority in Congress who created this mess are leading us down the dangerous path of creating a political economy.”
 
Luetkemeyer is a co-sponsor of the following legislation that was denied a vote on the House Floor:
  • H.R. 1582, the Executive Bonus Repeal Act.  This bill would strike the clause in the so-called stimulus bill – inserted secretly and which Congressman Luetkemeyer voted against – that allowed taxpayer funds to be used for bonus payments to executives.
  • H.R. 1577 directs the Secretary of the Treasury to recoup within the next two weeks the payment of AIG bonuses; requires any future bonus payments, of any kind, to Troubled Assets Relief Program (TARP) recipients, to be approved in advance by Treasury; and requires that any future contractual obligations entered into by TARP fund recipients to make bonus payments of any kind be approved in advance by Treasury.
  • H.RES 251, a resolution of inquiry, that forces Treasury Secretary Tim Geithner to provide all information regarding AIG’s use of federal bailout money to Congress, including payment of $165 million in bonuses.