1. United States
2. Ariz.
3. Letter

I am writing to urge you to support the Tax Excessive CEO Pay Act, legislation that addresses the extreme disparity between executive compensation and worker wages that has destabilized our economy and eroded public trust in our institutions. The numbers tell a stark story. In the 1960s and 1970s, CEOs typically earned 20 to 30 times what their workers made. Today, the average CEO at a major corporation makes nearly 300 times what their employees earn. Walmart's CEO earned $27.4 million last year, which is 930 times the median worker's salary of $29,469. Coca-Cola's CEO made $28 million, nearly 2,000 times the average worker's $14,144. Starbucks' CEO received $95.8 million in 2024, almost 3,000 times the typical barista salary of $32,000. Tesla approved a nearly $1 trillion pay package for Elon Musk that would make him the first trillionaire in history. This extreme inequality has fueled widespread resentment and disillusionment among working people. The system is rigged when CEOs control their own boards and link their compensation to stock prices while benefiting from stock buybacks. This is not sustainable economically or socially. The Tax Excessive CEO Pay Act offers a measured solution. It would impose an additional 0.5% tax on companies when the CEO-to-worker pay ratio exceeds 50-to-1, and an additional 1% tax when it exceeds 100-to-1. This approach does not cap pay but creates accountability. If Tesla's board approves Musk's $975 billion package, the company would owe up to $100 billion more in taxes over the next decade, revenue that could benefit your constituents. This policy has broad public support. Sixty-two percent of Americans support setting caps on CEO pay relative to worker pay. Your constituents want action on this issue. I urge you to cosponsor and vote for the Tax Excessive CEO Pay Act.