News

Portland Adopts Surcharge on C.E.O. Pay in Move vs. Income Inequality

Moving to address income inequality on a local level, the City Council in Portland, Ore., voted on Wednesday to impose a surtax on companies whose chief executives earn more than 100 times the median pay of their rank-and-file workers.

The surcharge, which Portland officials said is the first in the nation linked to chief executives’ pay, would be added to the city’s business tax for those companies that exceed the pay threshold. Currently, roughly 550 companies that generate significant income on sales in Portland pay the business tax.

By GRETCHEN MORGENSON

Full Story: http://www.nytimes.com/2016/12/07/business/economy/portland-oregon-tax-executive-pay.html?contentCollection=weekendreads&action=click&pgtype=Homepage&clickSource=story-heading&module=c-column-middle-span-region&region=c-column-middle-span-region&WT.nav=c-column-middle-span-region

Posted in:

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.