Financial Times FT.com

Stimulus bill extends cap on bank bonuses

By Francesco Guerrera in New York and Edward Luce in,Washington

Published: February 14 2009 02:00 | Last updated: February 14 2009 02:00

Top bankers working for US financial groups that have received government aid face tough new caps on bonuses under a little-noticed amendment to the law authorising the $787bn stimulus package.

News of the amendment emerged as the House of Representatives passed the stimulus bill and the Senate prepared to vote. As with its first passage through the House, the 246-183 margin came with no Republican votes.

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