Northern California Congressman's Bill Targets PG&E For Giving Executives Bonuses
WASHINGTON D.C. (CBS13) — Northern California Congressman Josh Harder (CA-10) plans to introduce a bill written specifically to target PG&E for giving their executives bonuses while continuing to "neglect its infrastructure and cause blackouts."
According to Harder's office, the "No Bonuses During Blackouts Act" would revive the corporate alternative minimum tax, "for utilities that offer executive bonuses but have failed to invest in climate-resilient infrastructure."
The bill would require PG&E to pay the AMT if they fail to meet certain climate-resiliency mandates during the public safety power shutoffs.
Harder said he is making sure the bill only applies to the utility's executives and will not hurt lower-level employees "who are bearing the brunt of these blackouts and have become the targets of harassment."
According to the Securities and Exchange Commission (SEC) filings, the top eight PG&E executives were paid more than $25 million in 2018. Additional fillings show the same executives made more than $3.5 million in bonuses over the past three years, according to Harder's office.