Tightened executive pay limits tucked into coronavirus aid bill

[DonViejo]

Senate provision could double the number of highest-paid executives whose compensation can’t be written off by their companies

By Doug Sword
Posted March 10, 2021 at 5:30am

Million-dollar compensation packages would get pricier for big corporations under a late insert to keep the $1.9 trillion coronavirus aid package in line with its deficit targets.

A provision that first appeared in the Senate’s version of the huge relief bill last week and then survived the floor amendment “vote-a-rama” would potentially double the number of the highest-paid executives whose compensation can’t be written off by their companies.

Current law bars public companies from deducting from their tax bills the cost of anything more than $1 million a year in compensation that goes to one of five employees – the chief executive officer, the chief financial officer or the three other highest-paid executives at the company.

The Senate-passed bill, expected to clear the House on Wednesday, would add five more highly paid officials to the list. That means the compensation of up to 10 executives at America’s largest companies couldn’t be written off if the provision becomes law as expected.

more
https://www.rollcall.com/2021/03/10/tightened-executive-pay-limits-tucked-into-coronavirus-aid-bill/

[BumRushDaShow]

1. I know there's a lot of stuff that I keep hearing was tucked in that bill

[Hugin]

4. No wonder certain Senators were scrambling on this bill...

The meat is always between the lines.

In the first relief package it was the unmasking of shell companies and now this from the current legislation.

[BumRushDaShow]

5. And the whole thing was read out loud in the Senate

going all night long last Friday/Saturday...

[Miguelito Loveless]

2. I would argue that any salary/compensation package

greater than 25x the value of the lowest paid employee (including outsourced "employees&quot is not tax deductible by the company as a business expense.

[Fullduplexxx]

3. And the gop cant bitched about it being snuck in because ronnie the russian had it read aloud

[Phoenix61]

6. No wonder the Repubs hate it. Taking money

from the poor and giving it to the rich is their MO.

[JohnnyRingo]

7. Shit be happnin'

Remember when Junior said his dad will get more done at his desk in a week than Biden in 4 years?
Asshole better get busy.