Main » 2009»March»21 » Bank Of America Chief: Heavy Bonus Taxes 'of Grave Concern'
Bank Of America Chief: Heavy Bonus Taxes 'of Grave Concern'
18:49
SAN FRANCISCO -- Bank of America Corp. Chief Executive Ken Lewis added
to critcism Friday of proposed legislation that would heavily tax
bonuses awarded to employees of firms receiving government assistance.
In a memo published in the online edition of The Wall Street Journal,
Lewis wrote that the proposed legislation, which would impose a 90% tax
on bonuses for employees making over $250,000 a year at companies
receiving at least $5 billion in federal aid, "have the potential to
damage the ability of the government to engineer a financial recovery."
Earlier Friday, reports surfaced of similar criticism of the proposed
tax legislation from Citigroup Inc. Chief Executive Vikram Pandit.
Category: Business |
Views: 684 |
Added by: politic
| Rating: 0.0/0 |