The US city of Portland in Oregon will impose a tax on public companies which have CEO - worker income ratios of greater than 100 - 1 . The tax , which was passed last year , will increase corporate income tax by 10 % for a higher than 100 - 1 ratio and by 25 % for a higher than 100 - 1 ratio . Officials expect that the measure will raise $2.5m a year from January 2018, with former environmental lawyer Steve Novick, the city commissioner who proposed the measure, saying that the revenue is intended to be used to pay for programs for homeless people. It is estimated that the tax will raise $ 2.5 m annually from January 2018 . The money will be used to fund schemes for homeless people . Approximately 540 publicly traded companies are currently subject to business income tax in the city .
The US city of Portland in Oregon will impose a tax on public companies which have CEO - worker income ratios of greater than 100 - 1 . The tax , which was passed last year , will increase corporate income tax by 10 % for a higher than 100 - 1 ratio and by 25 % for a higher than 100 - 1 ratio . It is estimated that the tax will raise $ 2.5 m annually from January 2018 . The money will be used to fund schemes for homeless people . Approximately 540 publicly traded companies are currently subject to business income tax in the city .