Bill Text: MI HR0056 | 2009-2010 | 95th Legislature | Introduced
Bill Title: A resolution to memorialize Congress and the President to do all they can to halt or require repayment of contractually approved bonuses to executives of the American International Group in a manner similar to the required renegotiation of contractual agreements between the domestic auto manufacturers and their employees.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-03-26 - Referred To Committee On Banking And Financial Services [HR0056 Detail]
Download: Michigan-2009-HR0056-Introduced.html
Rep. Jackson offered the following resolution:
House Resolution No. 56.
A resolution to memorialize Congress and the President to do all they can to halt or require repayment of contractually approved bonuses to executives of the American International Group in a manner similar to the required renegotiation of contractual agreements between the domestic auto manufacturers and their employees.
Whereas, News of the outrageous payment of bonuses to executives of the American International Group (AIG) in light of the billions of taxpayer dollars showered upon that company even after these executives led the company to the brink of ruin has angered people across the state and nation. President Obama has been forceful in expressing his anger at these bonuses; and
Whereas, Although it is inexplicable to the taxpayers of this country who are financing the survival of AIG, the bonus payments have been explained as contractual obligations that cannot be broken. To the people of Michigan especially, who are vulnerable to even more severe economic troubles if the domestic auto industry is allowed to fail, the bonuses are particularly galling; and
Whereas, Many of our own workers and neighbors across Michigan will be directly impacted by the renegotiation of already agreed upon contracts between the domestic auto companies and the auto workers. The notion that one type of contract is too safe to reopen while others are freely undone is offensive to many Americans. The working families that represent the middle class and built the nation are justifiably mystified by what seems to be a clear double standard; now, therefore, be it
Resolved by the House of Representatives, That we memorialize Congress and the President to do all they can to halt or require repayment of contractually approved bonuses to executives of the American International Group in a manner similar to the required renegotiation of contractual agreements between the domestic auto manufacturers and their employees; and be it further
Resolved, That copies of this resolution be transmitted to the Office of the President of the United States, the President of the United States Senate, the Speaker of the United States House of Representatives, and the members of the Michigan congressional delegation.
