Warren, Baldwin, Carper, Warner Commend Budget Provision to Reform Executive Compensation

WASHINGTON, D.C – U.S. Senators Elizabeth Warren (D-Mass.), Tammy Baldwin (D-Wisc.), Thomas Carper (D-Del.), and Mark Warner (D-Va.), members of the Senate Corporate Governance Working Group, released the following statement to commend President Biden’s budget proposal to restrict stock buybacks for corporate executives: 

“We are pleased that President Biden’s Budget calls for addressing the misaligned incentives that encourage excessive stock buybacks, often at the expense of investments in workers, innovation, and communities. Congress needs to address this issue, and we’re working on common-sense legislation that will reform executive compensation and incentivize American companies to prioritize long-term economic growth.”