Policy possibilities for reducing the income gap between the top of society and the bottom often include salary caps for executives of publicly-held companies and government agencies. \u00a0Recent efforts to cap salaries at Fannie Mae and Freddie Mac are succeeding.<\/p>\n
A congressional push to limit the salaries for the CEOs of\u00a0Fannie Mae and Freddie Mac moves closer this week when the House version of a bill that already passed theSenate unanimously goes to the House floor for a vote.<\/p>\n
The House\u2019s Equity in Government Compensation Act of 2015, introduced by U.S. Rep. Ed Royce, R- Calif., is expected to pass with bipartisan support.<\/p>\n
“Near universal support in both the House and Senate for capping GSE CEO pay is proof positive that multi-million dollar raises at taxpayer bailed-out and backed organizations are unconscionable \u201d said Rep. Royce. “I applaud Senator Vitter for his quick work in getting this bill through the Senate and will work to replicate his success in the House.\u201d<\/p>\n
The Senate version of the CEO pay cap bill is part of a larger suite of legislation designed to jumpstart GSE reform.<\/p>\n
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The U.S. Department of the Treasury has\u00a0stated\u00a0it “does not support FHFA\u2019s new approach to CEO compensation at Fannie Mae and Freddie Mac and urged the agency to reject any increase.”<\/p>\n
The White House appears on board with the bill.<\/p>\n","protected":false},"excerpt":{"rendered":"
Policy possibilities for reducing the income gap between the top of society and the bottom often include salary caps for executives of publicly-held companies and government agencies. \u00a0Recent efforts to cap salaries at Fannie Mae and Freddie Mac are succeeding. … Continue reading