Obama to propose new bank fee

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WASHINGTON (AP) — President Barack Obama on Thursday is set to outline his plan for taxpayers to recoup the money they’re owed by bailed-out financial institutions.

The president is expected to propose a new fee on the nation’s biggest financial firms to recover up to $120 billion.

In the afternoon, Obama will speak at the opening session of the Forum on Modernizing Government.

The forum brings private sector and federal government leaders together in Washington to discuss new ways to use technology to streamline government operations, improve customer service and maximize returns on information technology investments.

Later, the president will speak at the House Democratic Caucus retreat on Capitol Hill.