Dodd, Baucus React to Obama’s Proposed Bank Tax
Here’s the statement from Sen. Chris Dodd (D-Conn.), chairman of the Banking Committee, supporting the Obama administration’s proposal to apply a tax on the nation’s financial giants in order to repay taxpayers for the 2008 bailout.
Wall Street owes a great debt to the American public and we have the right and the obligation to recoup as much money as we can for the taxpayers. The taxpayers wrote the check that saved these firms. If it wasn’t for the American taxpayers, they would just be empty offices now. It’s time for Wall Street to return the favor.
We may also consider additional means to limit executive compensation as part of our financial reform efforts.
Other Democrats aren’t so sure. Sen. Max Baucus (D-Mont.), chairman of the Finance Committee, issued a characteristically non-committal statement today, saying only that he “look[s] forward to reviewing the details of this proposal.”