The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.We'll keep you posted on how this plays out.
UPDATE (3:19 PM): It looks like Jeff and his allies will be upset, but we hope the most recent news won't scare them away. As it turns out, Congress overwhelmingly passed the bill 328-93, according to the New York Times. According to the Times, the Senate will take up the matter next week.
UPDATE (5:25 PM): TaxProf Blog has posted further details on the bill, including PDFs of the relevant documents. We encourage you to take a look.