The SF Business Times reports that the state legislature is making at attempt to tax corporations that pay their top executives 100 percent or more than the company’s average employee.
Despite a high-profile backing by former U.S. Secretary of Labor Robert Reich, who joined lawmakers in Sacramento on Thursday to promote the bill, passage will require support from both the governor and some Republicans to garner a supermajority.
Gov. Jerry Brown has not taken a position on the bill, and support from even Democrats may be challenged during this election year. Meanwhile, pro-business groups have already lined up in opposition. The California Chamber of Commerce has labeled Senate Bill 1372 a “job killer.” READ MORE.