Posted: 05:56 PM ET
WASHINGTON (CNN) — Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.
On Tuesday (March 17, 2009), Dodd denied to CNN that he had anything to do with the adding of that provision.
Also per FoxNews:
Sen. Dodd Admits Adding Bonus Provision to Stimulus Package
Sen. Chris Dodd, D-Conn., said Wednesday the Treasury forced him to add language to the stimulus bill last month that exempted all executive bonuses made before February 11, 2009.
By Trish Turner
FOXNews.com
Wednesday, March 18, 2009
In a dramatic reversal Wednesday, Sen. Chris Dodd, D-Conn., confessed to adding language to the stimulus bill last month that exempted all executive bonuses made before February 11, 2009.
Dodd told FOX News Treasury officials forced him to make the change.
"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," he said.
Dodd said the argument put forward by Treasury was that a "flood of lawsuits" would come forward if the change was not made.
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.
When asked how administration officials have this kind of leverage over members of Congress,
Dodd said, "The administration has veto power...No one suggested a veto to me, I don't want to imply that to you. But certainly that's not an insignificant tool."
On Tuesday, Dodd told FOX News that he didn't add the exemption.
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