Friday, August 26, 2011

ERRP: Pardon Bernie

Senator Bernie Sanders (I-VT) identified ten companies not paying their share.  It turns out six of the ten have their hand in Uncle Sam's wallet, specifically the Early Retiree Reimbursement Program (ERRP).  As of June 10

GE was paid $38.5 million
Boeing - $34 million
Bank of America - $4.4 million
ConocoPhillips -  $5.5 million
Citigroup -  $4 million
Valero Energy - $1 million

These are checks, that come with few strings attached. 

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