"The bill also requires the Treasury Department to issue regulations to prevent tax avoidance, including against companies that increase the use of contractors rather than employees," the summary notes.
"Pay-ratio data for privately held corporations would also be made public, just as publicly held corporations are required to make public under current law.".
)—came as he presided over budget committee hearing Wednesday that will focus primarily on wealth and income inequality.
Under Bernie's new bill: Walmart, which pays its CEO nearly 1,000 times more than its average worker, would pay up to $855 million more in taxes.
CVS, which pays its CEO 790 times more than its average worker would pay up to $450 million more in taxes.
Between 1978 and 2019, EPI found, CEO pay soared by 1,167% while typical worker pay grew by just 13.7%.
"I'm proud to partner with Sen. Sanders to reintroduce the Tax Excessive CEO Pay Act to make ultra-wealthy CEOs pay their fair share. »