News Home

Contact: 202-225-2071

Foxx votes for 100% accountability from bailout recipients

U.S. Representative Virginia Foxx (NC-05) cast a vote on two separate AIG bonus measures before Congress today.  She voted to consider a measure to return 100 percent of AIG millionaire bonuses to taxpayers and in opposition to a measure that tries to recapture the bonuses in an unconstitutional fashion (known as a bill of attainder). 

Foxx is also a co-sponsor of H.R. 1582, the Executive Bonus Repeal Act, which will “claw back” 100 percent of the recent AIG millionaire bonuses. 

Foxx made the following statement today on the AIG bonus situation.  Video is here.

“I voted against the Bush TARP Megabank bailout and opposed the Obama Megabank bailout—which authorized the funding for the AIG bailout without attaching appropriate safeguards.  I also opposed the Democrat stimulus bill, a massive bill that was finalized in the dark of night and voted on shortly thereafter, that explicitly authorized the AIG bonuses.

“This rushed legislation is coming from the same people who threw together the final stimulus bill in the dead of night and gave us 12 hours to read it.  The same people who drafted the stimulus bill containing the provision that gave the green light to these million dollars bonuses. 

“It is important to note that the same Majority that is expressing outrage over these AIG bonuses—rightly expressing outrage I might add—is the same Majority that voted overwhelmingly for the so-called stimulus that paved the way for these bonuses. 

“Let’s take a measured approach, unlike the approach that President Bush took on the bailout panic last fall and unlike the stimulus frenzy last month that put us where we are today.

“We can recoup this money in a constitutional manner—in fact Republicans have a bill that will do just that.”