Tedisco: Congress should “seriously look at” capping CEO salaries
Republican Congressional candidate James Tedisco said Wednesday that Congress should “seriously look at” capping CEO salaries of companies that receive federal bailout money, but he did not know at what level.
Democratic candidate Scott Murphy said last week he supports President Obama’s proposal to cap the compensation of top executives at companies that receive federal bailout money at $500,000 annually.
The following is a transcript of a portion of a telephone interview in which Tedisco, the state Assembly minority leader from Glenville, discussed the topic.
Q: How do you feel about, with the stimulus package, capping executive salaries of companies that receive federal bailout money?
A: “Well, I think that’s something that we’ve really got to seriously look at. Now before they pass that legislation, I think they really — because what I see things that are going at the national level and some other levels — I think really we have to pass legislation first that might double the penalties for politicians who don’t pay their taxes. That’s extremely important that we do that to send a message. I agree with President Obama that we shouldn’t have one set of rules for public officials in paying their taxes and another set of rules for the public. And so I’d like to see legislation passed that doubles the penalties for public servants who don’t pay their taxes. And I’d also like to make sure that any of the stimulus money doesn’t stop at these CEOs who have — you know– paid $18 billion out in bonuses. … And so we seriously do have to look at their salaries, but we also have to look at what their doing with this money.”
(The Republican National Congressional Committee has criticized Murphy, a venture capitalist from Glens Falls, over unpaid taxes at computer software company Murphy previously owned.
After Murphy sold the company, New York state filed tax liens — one for $446 for unpaid withholding taxes and another for $298 in unpaid corporate taxes — dating back to when Murphy still owned the company.)
Q: So when you say taking a “serious look” at capping the CEO salaries — that’s a maybe?
A: “Well I haven’t seen the legislation. I think we have to cap it. I’m not sure where at right now. But again, I don’t want politicians who don’t pay their taxes to get off easier than the public does. In fact, they should be held up to a higher standard. We could double the penalties for that. And I would hope my opponent would support that. And also — yeah — at some point they have to be capped for these CEOs, especially at a time when we’re trying to get money to middle class people who are suffering the effects probably the most and didn’t give out these risky loans.”
so just like on the stimulus, tedisco dodges. typical.
I wonder if Mr. Tedisco(or Mr. Murphy for that matter) would “seriously consider” capping their congressional salaries at $44,290 per year, the median wage for workers in our district, as I have pledged to do. Congressmen are paid $175000 annually, and should I be elected, I will have saved my district over $130000 in my first year of service without lifting a finger or saying a word.
Who do you want representing you in Washington? A career politician, a millionnaire, or a working man who feels and shares your pain, willing to tie his prosperity to yours?