By Kelsey Volkmann, St. Louis Business Journal
March 19, 2009

U.S. Reps. William Lacy Clay, and Russ Carnahan, two Democrats from Missouri, were among the lawmakers who voted Thursday to impose a 90 percent tax on bonuses given to employees of American International Group and other bailed-out companies.

National furor erupted after news spread about AIG giving $165 million in bonuses to 400 employees after the federal government and taxpayers bailed out the insurance giant.

The Bonus Recoupment Tax Act imposes the hefty tax on bonuses paid from tax dollars to employees of any company that receives more than $5 billion in bail-out money and with household incomes of more than $250,000.

The measure passed 328-93.

"It's outrageous that tax dollars were used to reward some of the very people who caused enormous harm to our economy through their despicable and reckless financial practices," Clay said in a statement. "The taxpayers own 80 percent of this company, and the owners want their money back now."

"American taxpayers as stockholders are justifiably angry and entitled to relief," Carnahan said in a statement.

U.S. Sen. Kit Bond, R-Mo., has also spoken out against the AIG bonuses.