×

House Likely To Vote On CEO Pay Bill

frank_barney_120x100.jpg

The House of Representatives Wednesday is likely to vote on a bill that will have an indirect effect on executive pay.

The proposed legislation, known as the Shareholder Vote on Executive Compensation Act, is being spearheaded by Rep. Barney Frank (D-Mass), who is also chairman of the powerful House Financial Services Committee.

Coming in the wake of a wave of controversial CEO pay packages -- including one topping $200 million for outgoing Home Depot boss Robert Nardelli, -- the bill does not seek to cap executive pay but it does seek to give shareholders more say in the compensation process.

A vote is most likely to come late afternoon tomorrow.

Click here to read the the bill.