ASAE delivered a letter to Sen. John Kerry, urging him to reconsider his proposal to penalize firms that receive TARP (Taxpayer Protection and Corporate Responsibility Act) funds from hosting, sponsoring or paying for conferences and events.
"We absolutely agree that companies receiving TARP funds must end all extravagant spending practices and be accountable to taxpayers. But the Treasury Department has already instituted new guidelines this month to ensure that public funds issued to struggling institutions are directed only toward the public interest in strengthening our economy, and not toward inappropriate, frivolous gain," wrote John H. Graham, ASAE’s president and CEO.
