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House OKs Weaker Exec Pay Caps

HeadlineApr 02, 2009

On Capitol Hill, the House has approved a weaker version of a bill to cap executive payments at bailed-out firms. The measure follows moves by Senate Democrats to quash last month’s much trumpeted House measure that would have imposed a 90 percent tax on bonuses. The new House measure limits the scope of bonuses that can be considered “excessive” and gives the Treasury greater leeway in oversight.

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