Sanders, Warren Want to Raise Taxes to Rein In Excessive CEO Pay

March 17, 2021, 3:22 PM

Companies that pay their chief executives at least 50 times more than the typical employee would face higher taxes under a new bill offered Wednesday by Senators Bernie Sanders and Elizabeth Warren.

Under the proposal, the tax rate would increase 0.5 percentage points for companies that pay their CEO between 50 and 100 times more than their typical worker. The highest penalty would be 5 percentage points for companies with leaders making more than 500 times what the typical employee. The bill could raise as much as $150 billion in tax revenue over 10 years, its backers say.

“At ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.