Boehner V. McConnell on Executive Compensation

Feb 4, 2009 11:54am

On Monday, Senate Minority Leader Mitch McConnell, R-Ky., suggested he doesn’t like the idea of limiting executive compensation. 

"What you have to do, it strikes me, is have some kind of parameters that don’t have the government basically running the private business," McConnell said, according to ABC News’ Jonathan Karl. "It is a tough challenge. I think we are all appalled by these — some of these executive salary arrangements and bonus arrangements and perks and all the rest. On the other hand, I really don’t want the government to take over these businesses and start telling them everything about what they can do. Then you truly have nationalized the business. So it is a delicate dance to try to prevent blatant abuses and still not have the government as a result of taking an equity position in the government telling them, for example, you can’t pay dividends or you can’t — I mean, things that are just ordinary business practices. We have to resist the temptation to basically dictate to these businesses how to run every aspect of their operation.”

On the other hand, this morning House Minority Leader John Boehner, R-Ohio, sounded quite amenable to the idea.

"I think if anybody is looking to the taxpayer to help bail their company out, these kinds of executive compensation limits are appropriate," Boehner said, per ABC News’ Dean Norland.

Asked a reporter, do you think $500,000 is the appropriate cap?

"I think somebody’s got to pick a number," Boehner said. "The president has picked one. I applaud him for doing it."

– jpt

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