The Associated Press
Published: March 19, 2009
13 companies getting bailout money owe back taxes
WASHINGTON: At least 13 companies receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.
Rep. John Lewis, D-Ga., chairman of a House subcommittee overseeing the federal bailout, said two companies owe more than $100 million apiece.
"This is shameful. It is a disgrace," said Lewis. "We are going to get to the bottom of what is going on here."
The House Ways and Means subcommittee on oversight discovered the unpaid taxes in a review of tax records from 23 companies receiving the most money, Lewis said as he opened a hearing on the issue.
The committee said it could not legally release the names of the companies owing taxes. It said one recipient of bailout money had almost $113 million in unpaid federal income taxes from 2005 and 2006. A second recipient owed almost $102 million dating to before 2004. Another was behind $1.1 million in federal income taxes and $223,000 in federal employment taxes.
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I asked my accontant if i could just right my tax check to CEO of GM motors or Chrysler...what inefficient asshats.....!