Senator Dodd Admits Adding Bonus Provision to Stimulus Package

Senator Dodd, the Dodge

Senator Dodd, the Dodge

Sen. Chris Dodd says Treasury forced him to add language to the stimulus bill last month that specifically excluded executive bonuses included in contracts signed before the bill’s passage.

No kidding, really?

In a dramatic reversal Wednesday, Sen. Chris Dodd confessed to adding language to a spending cap in the stimulus bill last month that specifically excluded executive bonuses included in contracts signed before the bill’s passage.

And these buffoons run our government? These are the “agents of change” that 52% of America and ACORN voted for??

“As many know, the administration was, among others, not happy with the language. They wanted some modifications to it,” he said. “They came to us, our staff, and asked for changes, and the changes at the time did not seem that obnoxious or onerous.”

But the provision has become a flash point for criticism amid the controversy over $165 million in bonuses given out by AIG after securing more than $170 billion in federal aid. The language in the stimulus bill wasn’t specific to AIG, but some have expressed outrage that it appears to have created a loophole.

Do you believe this? I have a bridge to sell you…:

Dodd said he was unaware of the AIG bonuses at the time the bill was being written back in early February. He also said he has no reason to believe Treasury officials making the argument knew about the AIG bonuses.

Of course, the Republicans got it right all along:

Still, Dodd has his enemies. The Senate Republican re-election campaign quickly shot out a statement on the Dodd reversal, as he is a prime target in the 2010 midterm elections and is facing a Republican opponent who, in one poll, is in a statistical tie with him.

“Senator Dodd’s reversal on this issue is both astonishing and alarming,” the National Republican Senatorial Campaign said in a written statement. “Contrary to his statements and denials over the last 24 hours, Senator Dodd has now admitted that he and his staff did in fact change the language in the stimulus bill to include a loophole for AIG executive bonuses.”

Source

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