Daily News Channel
The White House will unveil reforms to the nation’s international tax code on Monday intended to close loopholes for overseas tax havens and end incentives for creating jobs overseas. Senior administration officials briefed reporters Sunday evening in a conference call ahead of the announcement that will be made by President Obama and Treasury Secretary Tim Geithner.
AIG isn’t the only bailed-out financial firm paying big bucks to managers who helped steer their company to near collapse. Citigroup has pledged millions of dollars in bonuses to senior executives for the next few years, despite lawmakers efforts to eliminate such payments. It’s not clear whether the bonuses, which Citigroup says are for 2008 but won’t start paying out until 2010, will be allowed.