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Today the House of Representatives passed legislation that would impose a stiff penalty on bonuses given by companies such as AIG that received government rescue funds. Congressman Mike Thompson (D-Napa Valley) joined a bipartisan group of members voting for H.R. 1586, which passed the House by a vote of 328-93.

Today the Ways and Means Committee introduced legislation to tax bonuses given by companies such as AIG that received government rescue funds.

“It goes against the ideals of capitalism to reward the people that helped create this economic mess,” said Congressman Mike Thompson (D-CA). “It's even more outrageous that taxpayers are footing the bill. Congress should quickly pass this legislation that will effectively eliminate the bonuses being paid out by companies who received help from the government.”

Today Congressman Mike Thompson (D-Napa Valley) introduced the “Taxpayer Protection Act,” which would impose a 90 percent tax on all bonuses paid by businesses such as AIG that received rescue money from the government.

Today Congressman Mike Thompson (D-Napa Valley) warned homeowners to avoid scams that offer phony promises to pay off loans or charge high fees for non-essential services to homeowners looking to avoid foreclosure. The Congressman urged constituents to contact a free local government-approved housing counseling agency instead of companies that charge money for foreclosure assistance.