Senator Bernie Sanders and a group of Democratic lawmakers are proposing a bill to increase taxes for companies with CEO-to-worker pay ratios exceeding 50 to 1.
The legislation aims to address extreme income disparities and could generate $150 billion in U.S. revenue over a decade.
The proposal would require companies to disclose CEO-to-worker pay data and face tax penalties for high ratios, potentially impacting major corporations like Walmart, Google, and JPMorgan Chase.
“Americans across the political spectrum are outraged by the extreme gaps between CEO and worker pay,” the group wrote.
However, the bill’s passage faces challenges in the Senate and the Republican-controlled House, with potential implications for the upcoming U.S. elections.
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