Corporate Law News

Sanders Pledges 20% Worker Stake in Sweeping Governance Overhaul

Oct. 14, 2019, 10:14 AM

Senator Bernie Sanders proposed sweeping changes to U.S. corporate governance that would give workers 20% ownership in public companies and the right to elect 45% of their directors, while expanding the government’s power to stop mergers.

The 2020 Democratic presidential contender’s “corporate accountability plan” proposes to restore the corporate tax rate to 35% from 21% and repeal the 2017 tax cuts passed by Congress with only Republican votes. He also proposes to review mergers approved by the Trump administration and unwind any deemed “improper.”

“We will demand that profitable corporations pay their fair share of taxes,” Sanders said Oct. 14...

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