Senate ready to make AIG bonus tax quietly go away

Jarred by a cool reception from the White House and fears of unintended consequences across the financial world, Senate leaders are likely to delay until late next month legislation to punitively tax bonuses at banks and investment firms that receive federal aid…

Finance Committee Chairman Max Baucus (D-Mont.), who introduced a Senate version of the bill Thursday, said yesterday that it is “unclear at this point” when the measure will be considered. He initially hoped to pass his legislation in a matter of days but said White House officials and other senators were offering “a lot of ideas” for modifying his proposal. But he added that no consensus has emerged on the specifics of the bill, as opposed to the unified outrage over the bonuses.