NEWSMAX: President Barack Obama will ask Congress next week to limit the amount of executive pay the government reimburses federal contractors to $400,000, the same annual salary he makes as the world’s most powerful chief executive.
According to The Hill, without a limit being set, the executive pay scale the government allows for private contractors doing government work will rise to $950,000 this year – up from the current $763,000 the government reimburses contractors for each of up to five top executives.
The president’s cap proposal will be put to the test during upcoming House Armed Services Committee hearings, where members will discuss compensation limits for defense contractors while working on the National Defense Authorization bill for 2014… (more)
