Oregon Public Broadcasting

Oregon Senator Ron Wyden is trying to convince the Obama administration to re-consider its plan for limiting executive compensation. April Baer reports it's one of several proposals making the rounds on Capitol Hill.

Wyden's not saying, "I told you so", but he notes his plan might have curbed AIG's payouts to executives.

This week the company admitted those payouts topped $165 million. Wyden's plan would require firms taking TARP money to give back bonuses, or pay a hefty 35% tax on bonus money exceeding $25,000.

On the House side, Congressman Earl Blumenauer has introduced a bill calling for a 90-percent tax on executive bonuses at TARP-assisted firms.

Earl Blumenauer   "What we are proposing is that we take the tax code that has been bent for the past eight or ten years, and use it to create a little tax justice."

Blumenauer says he knows his proposal may be a bit strong to pass, but he says he thinks the Ways and Means committee may consider a 40% executive bonus tax rate, maybe as soon as this week.