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Today in Labor History

Aug. 13, 1963
Civil rights leader and union president A. Philip Randolph strongly protested the AFL-CIO Executive Council's failure to endorse the August 28, 1963 "March on Washington."
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New Bill Cracks Down on Sky-High CEO Pay
Posted On: Nov 14, 2019
Nov. 14, 2019 | ORGANIZING | The Teamsters for years have been at the forefront of pushing back on excessive CEO pay. Now the union is glad to see some on Capitol Hill agree. Lawmakers yesterday rolled out the Tax Excessive CEO Pay Act, which would impose tax rate increases on companies with CEO-to-median-worker pay rates greater than 50-to-1. Penalties would begin with a 0.5 percent corporate rate tax increase for those at the lower end, rising to a five percent increase for companies with a ratio greater than 500-to-1. The tax is expected to raise $150 billion over 10 years. Several Teamster employers have been guilty of such pay disparity, including XPO Logistics, where CEO Bradley Jacobs’ pay exceed workers 361:1; Republic Services Group, where CEO Donald Slager’s pay is 183 times higher than the average worker; and UNFI, whose CEO Steven Spinner earns 96 times the company’s median worker… Teamster.org







 
 
Teamsters local 570
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