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"Government should not decide the compensation for America's corporate executives," he said. "But the salaries and bonuses of CEOs should be based on their success at improving their companies and bringing value to their shareholders."
In effect starting last month, the rules give investors access to clearer and more detailed information from public companies on their top executives' pay packages and perks. Their impact will become apparent as corporations begin issuing 2006 annual reports.
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The Senate is looking at curbing executive compensation by adding an amendment to the minimum wage bill. Bush doesn't want legislation-- he wants the boards to voluntarily reign in executive comp.
<edit to add> He just wants more disclosure on annual reports --NOT LEGISLATION.
http://www.forbes.com/business/2007/01/29/senate-deferred-comp-biz-wash-cx_bw_0129congress.html>>
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Ripples are spreading through Congress and across corporate America as the Senate prepares to take up two subjects very dear to top executives--compensation and taxes.
A Senate amendment to the minimum wage bill designed to provide tax breaks for small businesses contains a critical provision that aims to curb the amount of money executives can defer in order to avoid taxes.
The provision would cap some deferred compensation for executives, at either $1 million annually or the average of the previous five years compensation, whichever is lower. Those who go beyond this cap would be subject to a 20% tax and penalties.
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