U.S.A. HOUSE OVERSIGHT CHAIRMAN ISSA (R-CA) SUBPOENAS OBAMA'S U.S. TREASURY SECRETARY JACK LEW FOR IMPEDING IRS INVESTIGATIONS & FOR ALL DOCUMENTS RELATED TO DELPHI SALARIED RETIREE PENSION LOSSES RELATED TO GM BAILOUT - (VIDEO)
By Vicki Needham, 08/09/13, The Hill
Breaking: Issa Subpoenas Treasury Secretary Lew For IMPEDING IRS Targeting Investigation (Video)
A top House Republican subpoenaed Treasury Secretary Jack Lew on Friday to appear on Capitol Hill and discuss the panel's investigation into the handling of pension funds during the bankruptcy and taxpayer bailout of General Motors.
House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.) subpoenaed Lew after lawmakers on the panel said last month that Treasury had until Aug. 5 to produce a slew of requested documents in regard to the surrender of all of Delphi's retirees’ pensions to the Pension Benefit Guaranty Corporation during the 2008 bailouts.
In the process, General Motors, the former owner of Delphi, agreed to compensate union-represented retirees for the move, while the pensions of non-union workers were cut by as much as 70 percent.
“Taxpayers deserve the full truth about how decisions were made to use their money in an administration effort that resulted in protecting generous pensions for unionized Delphi employees while greatly diminishing benefits for non-unionized employees,” said Issa, Subcommittee Chairman John Mica (R-Fla.) and Rep. Michael Turner (R-Ohio) in a letter to Lew.
"Nearly a year after the committee’s last request, the department still had not fully responded; the Department instead provided only a fraction of the responsive documents," they wrote.
The lawmakers sent a letter to Lew on July 23 outlining their previous requests to former Treasury Secretary Timothy Geithner.
The panel's Subcommittee on Government Operations held a field hearing on the Delphi pension bailout on June 10.
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