Exclusive: Obama budget likely to include (as yet undetermined) fee on banks to help taxpayers [View All]

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Source: Politico

Exclusive: Obama budget likely to include (as yet undetermined) fee on banks to help taxpayers recoup cost of bailout -- Romer still sees recovery beginning in spring
By: BEN WHITE & VICTORIA MCGRANE & MIKE ALLEN on January 11, 2010 @ 5:57 AM

EXCLUSIVE: Top administration officials tell Morning Money that President Obama’s budget, to be unveiled next month, is likely to include a fee on banks designed to recoup some of the cost taxpayers incurred in the bailout, which specified that the U.S. government should be made whole. This will stop short of a financial transactions tax, and the administration has decided that a tax on compensation packages would be too easily evaded. The officials said the final approach has not been locked down. The chief goal is a fee that is not easily passed along.


Read more: http://www.politico.com/morningmoney/0110/morningmoney58.html