Senator McCaskill lost a round during negotiations over the $787 billion economic stimulus bill approved by Congress.
McCaskill’s proposal to cap the compensation of executives who work for companies bailed out by Congress at $400,000 was dropped from the bill. A compromise limits bonuses and severance packages, but doesn’t impose a hard cap.
A factor against the McCaskill amendment was an estimate from the Congressional Budget Office that it would have cost the government more than $10 billion over the next 10 years, because it would have greatly reduced the taxes top executives pay.
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