Portland’s lame duck city council member passes a bill that taxes companies who’s CEO makes 100 times the median salary of employees.
“Companies will only have to pay it if their CEO makes more than 100 times more than their median worker pay.”
“The new surtax will apply to about 550 publicly traded companies that do business in Portland and pay the city’s business income tax, according to the city Revenue Division.”
Phil Knight and Brian Krzanich won’t be happy.
If the median salary is 50,000, the CEO would have to make less than $5,000,000.