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March 20, 2009

Probe: Bailout Firms Owe $220M in Taxes
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In other bailout news, a congressional probe has found the top thirteen
firms to receive bailout money owe more than $220 million in unpaid
federal taxes. Congress member John Lewis of Georgia, the chair of the
House Ways and Means Subcommittee on Oversight, says two of the
companies owe more than $100 million apiece. The review only looked at
the top twenty-three bailout recipients, leaving open the possibility of
further owed taxes from nearly 450 remaining companies. The inspector
general overseeing the federal bailout says he will investigate whether
recipient companies misled Congress on their tax obligations.



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