Senate Democrats targeting the pay of health insurance executives

[babylonsister]

Senate Democrats targeting the pay of health insurance executives
By Alexander Bolton - 12/04/09 03:53 PM ET


Senate Democrats will offer an amendment this weekend to curb the pay of executives at health insurance companies that benefit from federal subsidies, fueling the growing feud with the powerful industry.

Sens. Blanche Lincoln (D-Ark.), Frank Lautenberg (D-N.J.) and Robert Menendez (D-N.J.) have sponsored an amendment that would prohibit health insurance companies from deducting more than $400,000 in executive compensation per individual. The cap would apply to companies that earned 25 percent or more of their income from Americans who buy insurance from government-created exchanges.

The Senate will debate the measure Saturday morning and is expected to vote on it around 3 p.m.

President Barack Obama and congressional Democrats started the healthcare debate earlier this year by forming a tentative truce with the insurance industry but that now appears finished.

Democratic rhetoric against the insurance industry has become increasingly critical as the debate has progressed.

more...

http://thehill.com/homenews/senate/70709-democrats-target-pay-of-health-insurance-executives

[napi21]

1. I LIKE that amendment. It doesn't control the pay, it just

takes away the incentive to pay those hugh salaries! I'd like to see that adopted by the IRS across the board. I think it would curb alot of this insanity in all businesses!