TV News LIES

Tuesday, Oct 21st

Last update02:41:11 AM GMT

You are here News Economy Audit Report: $24 Billion in Stimulus Money to Tax Cheats

Audit Report: $24 Billion in Stimulus Money to Tax Cheats

E-mail Print PDF

Sen. Tom Coburn, R-Okla.Lawmakers from both parties are calling for a fix to prevent tax cheating companies from getting federal contracts in light of a government investigation that found $24 billion in stimulus act funds went to companies owing $757 million in unpaid taxes.

“Average Americans are likely wondering why we gave such a huge amount of federal money to tax cheats when our national debt is more than $14 trillion,” Sen. Tom Coburn (R-Okla.) said in a statement. “That $24 billion went to such people looks like we are rewarding people for potentially criminal behavior.”“At least 3,700 Recovery Act contract and grant recipients—including prime recipients, subrecipients, and vendors—are estimated to owe more than $750 million in known unpaid federal taxes as of September 30, 2009, and received over $24 billion in Recovery Act funds,” Gregory D. Kurtz, director of forensic audits and investigative service for the GAO, told the subcommittee on investigations for Senate Homeland Security and Governmental Affairs Committee Tuesday.

More...


Most Recent Related Stories...


Yellen says US experiencing widening inequality

Janet YellenFederal Reserve Chair Janet Yellen said Friday that the last several decades have seen the most...

German downturn casts shadow over world economy

German economy turns downwardAs if the global economy didn't have enough troubles, it looks like Germany, Europe's traditional growth...

Banks accept derivatives rule change to end 'too big to fail' scenario

London financial districtThe $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to...

Hewlett-Packard to split into two public companies, lay off 5,000

hewlett packardHewlett-Packard Co (HPQ.N) said it would split into two listed companies, separating its computer and printer...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!