Portland Weighs Expanding Its Decade-Old CEO Pay Ratio Surtax
Portland is a city in Multnomah County, Oregon. Portland's Finance and Governance Committee of the Whole heard testimony on October 8 on a proposal to expand the city's decade-old CEO pay ratio surtax through a Fair Share Tax, according to an account published by Inequality.org on October 16.
Portland's surtax, the first of its kind in the nation, levies an additional charge on companies whose chief executives are paid far more than their typical workers. Witness Sarah Anderson told the committee the tax has functioned very well over ten years, with revenue generation its main measurable impact, averaging about $5 million per year for public services. San Francisco adopted a similar pay ratio tax in 2020, and legislators have introduced similar bills in at least 10 states and at the federal level.
Anderson gave five reasons for expanding the tax, including raising revenue for public services and encouraging narrower pay gaps, while noting it is hard to provide evidence the tax has narrowed pay gaps, given how entrenched corporate compensation practices are. The council has not yet decided on the expansion proposal.
Source: GSM · USA (original Chinese edition)
Photo: 图：波特兰市政厅（俄勒冈州）。图片来源：Another Believer，Wikimedia Commons，CC BY-SA 3.0。Photo: Portland City Hall, Oregon. Image: Another Believer, via Wikimedia Commons, CC BY-SA 3.0.
