WASHINGTON, March 19 (Reuters) - President Barack Obama on Thursday welcomed a U.S. House of Representatives vote to tax bonuses to employees at companies getting federal bailout money, saying it 'rightly reflects' outrage at hefty rewards paid by American Internationa Group Inc.
'Now this legislation moves to the Senate, and I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated,' Obama said in a statement released while he was visiting Los Angeles.
Responding quickly to deep public anger, the House passed a bill to tax bonuses to employees at companies getting federal bailout funds and recoup most of the $165 million paid to AIG executives.
(Editing by Sandra Maler) Keywords: FINANCIAL/AIG OBAMA (Reuters Messaging: matt.spetalnick.reuters.com@reuters.net; +1 202 898 8300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Now this legislation moves to the Senate, and I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated,' Obama said in a statement released while he was visiting Los Angeles.
Responding quickly to deep public anger, the House passed a bill to tax bonuses to employees at companies getting federal bailout funds and recoup most of the $165 million paid to AIG executives.
(Editing by Sandra Maler) Keywords: FINANCIAL/AIG OBAMA (Reuters Messaging: matt.spetalnick.reuters.com@reuters.net; +1 202 898 8300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.