LIKE & SHARE IF YOU AGREE WITH PETER THAT J.P. MORGAN SHOULD PAY ALL OF ITS FINE FOR ITS ROLE IN WALL STREET MELTDOWN Peter introduced legislation this week that would prevent J.P. Morgan from writing off as a business expense any portion of a penalty imposed by an emerging settlement with the Justice Department. News reports indicate that the Department is close to settling with J.P. Morgan over its actions that contributed to the near collapse of the American economy in 2008. According to these reports, the company would be able to write off a significant portion of a multi-billion dollar fine under the terms of the settlement. The Stop Deducting Damages Act (HR 3445) would put a stop to corporations reaching into the taxpayer’s pocket to pay their fines for breaking the law. Rep. Welch circulated a letter yesterday to House colleagues seeking support for the bill. welch.house.gov/press-releases/welch-introduces-bill-blocking-jp-morgan-from-writing-off-wall-street-meltdown-penalty/
Posted on: Fri, 01 Nov 2013 17:30:31 +0000
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