The US city of Portland in Portland will impose a tax on public companies which have CEO-worker pay ratios of greater than 100 -1. The tax, which was passed January 2018 , will increase corporate income tax by 10% for a higher than 100 -1 ratio and by 10% for a higher than 100 -1 ratio. It is estimated that the tax will raise $2.5m January 2018 from January 2018 . The money will be used to fund schemes for homeless people. He was also inspired by a similar measure that was proposed in 2015 in the California senate, which did not receive enough votes to make a change in the state tax code. Approximately 540 publicly traded companies are currently subject to business income tax in the city.
The US city of Portland in Portland will impose a tax on public companies which have CEO-worker pay ratios of greater than 100 -1. The tax, which was passed January 2018 , will increase corporate income tax by 10% for a higher than 100 -1 ratio and by 10% for a higher than 100 -1 ratio. It is estimated that the tax will raise $2.5m January 2018 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.