US

Senate hearings to investigate stimulus contractors

interns Contributor

WASHINGTON (CNNMoney) — Thousands of contractors who got stimulus money to do such things as build roads and provide social services owe more than $750 million in back taxes, a federal investigation has found.

More than $24 billion in stimulus money went to some 3,700 contractors who still owe the federal government taxes, according to the report released Tuesday by the General Accountability Office, Congress’ watchdog agency. Tax cheats accounted for 5% of 80,000 contractors who got stimulus dollars, the report said.

Full story: “Stimulus contractors owe $750 million in back taxes”