Subject: s7-07-13 comments
From: Linda Brown

February 28, 2017

The U.S. Securities and Exchange Commission has long delayed the Dodd-Frank law’s requirement that public companies disclose the ratio of their CEO’s pay to the pay of their median worker. It would be outrageous to further delay or reverse progress on that rule now.

Americans need and deserve more information about corporate pay practices. Such data helps shareholders guard their pocketbooks against self-seeking executives and it helps us all evaluate the long-term soundness of companies. That’s because excessive compensation at the top encourages risky practices up and down the line—in addition to inhibiting teamwork and reducing employee morale and productivity.

There is simply no excuse to give big corporations a pass about being transparent about their pay practices.

As a matter of fact, I believe state and local jurisdictions should follow the lead of the mayor and city council of Portland, Oregon, and levy a surcharge to the local tax bill of any corporation that gives its CEO more than 100 times the median pay of the company's average employee. Let us expose this inequality and end it.

Linda Brown

MD