TARP Corps. Owe More Than $220M in Back Taxes

At least 13 companies who have received some of the $300 billion in TARP funds owe hundreds of millions of dollars in back taxes, it was revealed today. Two of the companies owe more than $100 million in taxes, said Rep. John Lewis, D-Ga., chairman of the House Ways and Means Subcommittee on Oversight. Altogether, the 13 companies owed the government more than $220 million in unpaid taxes, he said. "This is shameful. It is a disgrace," Lewis said at the beginning of a hearing into how the...Full Story
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