GOP Sen. Kyl Seeks Delay on AIG Bonus-Tax Bill
Sen. Jon Kyl (R-Ariz.), the Republican whip, wants the Senate to delay -- at least for a week -- a vote on the House's bill to tax recipients of AIG bonuses, Reuters is reporting.
Analysts are attributing this afternoon's late Wall Street surge to Kyl's statement.
Kyl suggested hearings on the matter and is looking for alternatives to new, special taxes to get back the bonuses.
Last week, the House passed a bill imposing a 90-percent punitive tax on those who received bonuses of more than $125,000.
"I don't believe that Congress should rush to pass yet another piece of hastily crafted legislation in this very toxic atmosphere, at least without understanding the facts and the potential unintended consequences," Kyl said Friday, in the Senate. "Frankly, I think that's how we got into the current mess."
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