In other bailout news, a congressional probe has found the top thirteen firms to receive bailout money owe more than $220 million in unpaid federal taxes. Congress member John Lewis of Georgia, the chair of the House Ways and Means Subcommittee on Oversight, says two of the companies owe more than $100 million apiece. The review only looked at the top twenty-three bailout recipients, leaving open the possibility of further owed taxes from nearly 450 remaining companies. The inspector general overseeing the federal bailout says he will investigate whether recipient companies misled Congress on their tax obligations.
Probe: Bailout Firms Owe $220M in Taxes
HeadlineMar 20, 2009