Congressman Crenshaw to Congress: Business Executive Compensation is None of Your Business

Statement

Congressman Ander Crenshaw today issued the following statement regarding today's passage of the House Democrat Leadership's Shareholder Vote on Executive Compensation Act (HR 1257) by a vote of 269-134:

"Congress was not meant to legislate the salaries of our business leaders," said Congressman Crenshaw. Even as a non-binding resolution, this bill flies in the face of the free market ideals on which our nation was based. This bill creates a slippery slope marked with further government intervention which could adversely affect our global competitiveness."

This legislation would require public companies to provide annual, non-binding shareholder votes on approval of executive compensation packages and require separate non-binding votes to approve any executive pay packages related to a purchase or sale of the company.

Source