Friday, March 20, 2009

Pay Up, Please

American Scofflaw
Thirteen firms receiving federal bailouts owe more than $220 million in unpaid federal taxes, a powerful House Democrat said Thursday.

Georgia Rep. John Lewis, chairman of the House Ways and Means oversight subcommittee, indicated that two companies receiving federal bailout money each owed more than $100 million.

Lewis did not name the companies.

“This is a disgrace,” he said. “We shouldn’t take it anymore either. We want to get to the bottom of what is going on here … Taxpayers deserve nothing less than the truth.”

Lewis, who was holding a hearing about the distribution of stimulus funds, noted that firms receiving bailout money had been required to sign contracts stating that they did not owe any taxes.

Lewis’ remarks come only hours before the House of Representatives is set to vote on legislation to try to recoup bonuses paid to Wall Street executives with taxpayer money.

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