Washington, D.C.- Today, Congressional Progressive Caucus Co-Chairs Rep. Raúl M. Grijalva (D-AZ) and Rep. Mark Pocan (D-WI) applauded the release of CPC Vice Chair Rep. Keith Ellison’s (D-MN) new report, Rewarding or Hoarding?, which exposes the pay discrepancies between CEOs and their workers thanks to new data mandated to be released by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The full report is available here.
“One of the greatest injustices in our country is the growing inequality between America’s top earners and working families. Rep. Ellison’s new report on the pay disparity between top CEOs of Fortune 500 companies and their employees is a call to action for Members of Congress, business leaders, and communities across the nation to come together to fix the nation’s inequality problem.
“Of the 225 corporations listed in the report, the average CEO-to-worker pay ratio was 339:1. In the worst cases, the ratio is closer to 5000:1, with some workers having to work for thousands of years to equal just one year of their CEO’s salary. We applaud Rep. Ellison for continuing to be a champion for working Americans and fighting Republicans’ efforts to sustain a rigged system that favors the wealthy and corporations.
“And while Speaker Ryan and House Republicans continue to stack the deck against the American worker while giving bonuses to CEOs and Wall Street in the form of the GOP’s tax scam, the Progressive Caucus remains committed to fighting for an economy that works for all. With this new report, it is abundantly clear that we must advocate for policies that grow and strengthen the middle class, not policies that further enrichen those at the top.”
The Congressional Progressive Caucus (CPC) is the largest caucus within the House Democratic Caucus, with over 70 members standing up for progressive ideals in Washington and throughout the country. Since 1991, the CPC has advocated for progressive policies that prioritize working Americans over corporate interests, fight economic and social inequality, and promote civil liberties. The CPC champions progressive policy solutions like comprehensive immigration reform, a $15 national minimum wage, fair trade, gun violence reform, debt-free college, and making the federal government a Model Employer.