Link: https://ips-dc.org/report-executive-excess-2022/
Graphic:
Excerpt:
- Taxpayer dollars are fueling corporations with extreme CEO-worker pay gaps.
- Of the 300 companies in our sample, 40 percent received federal contracts between October 1, 2019 and May 1, 2022. The combined value of these contracts was $37.2 billion.
- At these low-wage contractors, the average CEO-worker pay ratio hit 571 to 1 in 2021. Only 6 of the 119 contractors had pay gaps of less than 100 to 1.
- Policy solutions for runaway CEO pay do exist — and enjoy broad support.
- Some 62 percent of Republicans and 75 percent of Democrats support an outright cap on CEO pay relative to worker pay.
- While a hard cap is unlikely, other CEO pay reforms have also gained traction in recent years. These reforms focus on three key areas:
- CEO pay ratio incentives for federal contractors
- Excessive CEO pay taxes
- Stock buyback restrictions and taxes
Author(s): SARAH ANDERSON | SAM PIZZIGATI | BRIAN WAKAMO
Publication Date: Accessed 10 June 2022
Publication Site: Institute for Policy Studies