We first reported yesterday on the looming removal of executive pay caps from the stimulus bill during final negotiations between the House and Senate.
As lawmakers were entering a closed-door meeting to sign off on the final details, I asked Sen. Olympia Snowe (R-ME) whether the executive compensation limits were indeed taken out of the measure — and Snowe said that only one of the original three pay limit plans had survived: her bid to limit executive bonuses, co-sponsored by Sen. Ron Wyden (D-OR). Notably, their plan was the only executive pay cap that was scored as a money-maker for the Treasury.
