The financial industry and U.S. Chamber of Commerce lobbied against the tax provision, arguing it would hurt the recovery and drive up costs for consumers. The House passed a tax provision last year on bailout recipients following the public outcry surrounding hundreds of millions of dollars in bonuses at crippled insurer AIG.
The Senate never passed a comparable measure.
The tax sponsored by Webb and Boxer would apply to roughly a dozen companies, including Goldman Sachs, Fannie Mae, Freddie Mac, AIG and General Motors, a mong others. The tax could raise between $3.5 billion and $10 billion, Webb’s office said.
Webb plans to push for the tax measure to be added to future legislation, including possibly the next “jobs bill” considered in the Senate.