Thursday, March 19, 2009
Of the 23 top recipients of TARP funds, 13 owe a combined $220 million in unpaid federal taxes. "To get money from Treasury, banks and others must sign a contract that states they have no material unpaid taxes. Treasury did not ask these banks and companies to turn over their tax records. Treasury relied on the signed statements when it agreed to invest billions of taxpayer dollars," said House Ways and Means Oversight Subcommittee Chairman John Lewis, D-Ga.