New Legislation Is Taking Aim at the Corporate Pay Gap
The corporate pay gap is rapidly widening. A proposed law would raise taxes on companies whose CEOs make 50 times more than the median pay of their employees.
The Meta store in Burlingame, California, on February 2, 2023. (David Paul Morris / Bloomberg via Getty Images)
CEO pay at many of America’s largest companies is skyrocketing while those executives slash the median pay for their workers, according to new government filings. The revelation comes as congressional lawmakers consider new legislation that would raise corporate taxes on companies with a wide CEO-to-worker pay gap.
A new report from the corporate research firm Equilar found that last year, executive compensation packages at some of the country’s largest companies increased by just over 11 percent.
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