Taxing Bonuses | featured news

Two Democratic senators on Thursday proposed legislation that would impose a one-time tax on bonuses paid to executives of companies bailed out with taxpayer money.

Growing concerns about consequences and a cool reception from the White House prompt delay.

As administration prepares to unveil economic plan, some of its economic officials react coolly to Congress's efforts to punitively tax payments.

Executives say legislation to severely tax bonuses may imperil the housing recovery program.