13 Firms Receiving Federal Bailout Owe Back Taxes
WASHINGTON — Thirteen of the companies receiving billions in federal bailout money owe a total of more than $220 million in delinquent federal taxes.
That’s the word from the chairman of a House subcommittee overseeing the federal bailout of financial firms. Rep. John Lewis of Georgia said Thursday that two of the companies owe more than $100 million apiece. In his prepared remarks, Lewis says that the House Ways and Means subcommittee on oversight discovered the delinquent taxes in a review of records from the IRS.
The revelation is sure to spark outrage on Capitol Hill, where the House is expected to vote Thursday on a bill that would impose steep taxes on employee bonuses at firms that have received bailout money.