Re-introduce and pass the Tax Excessive CEO Pay Act!
152 so far! Help us get to 250 signers!
I am your constituent and I am urging you to act now to rein in excessive CEO pay. At a time when workers' wages are stagnating while we’re dealing with record inflation, it’s shameful to see corporate executives getting richer while their workers struggle financially.
Exorbitant CEO pay is one of the biggest drivers of the growing income inequality gap we’re facing. In the 1970s, CEOs made 20 to 30 times the average pay of their workers; now the average CEO pay at a Fortune 500 company is 200 to 300 times more than what their average worker receives.
During the last session of Congress, Sen. Bernie Sanders and Rep. Barbara Lee introduced the Tax Excessive CEO Pay Act, which would impose a corporate tax rate increase on companies whose CEO-to-worker pay ratio is more than 50 to 1. This incentivizes companies to not only lower CEO pay but also to raise workers’ wages.
I urge you and your colleagues to re-introduce and pass the Tax Excessive CEO Pay Act to rein in CEO pay and address rising income inequality.