Last night, the House of Representatives unanimously passed S.2036, the “Equity in Government Compensation Act of 2015” which will cap the salaries of executives at Fannie Mae and Freddie Mac. In late June, the boards of Fannie and Freddie approved outrageous salary targets of $4 million annually for their respective CEOs. National Taxpayers Union (NTU) believed that was an ill-considered decision and worked diligently to overturn it. Now it has passed Congress, it is incumbent on the president to sign the bill.
Clark Packard, NTU’s policy and government affairs manager, said, “This is truly a bipartisan victory for hardworking taxpayers. The decision by Fannie and Freddie’s boards to drastically raise the salaries of their CEOs and top executives was outrageous. Congress heard our voices loud and clear and I’m thankful that so many of NTU’s members weighed in on the bill.”
In particular, NTU wants to thank Senator Vitter (R-LA) and Congressman Ed Royce (R-CA) for their strong their leadership on behalf of American taxpayers. Each was instrumental in getting Congress to pass this important piece of legislation.