Harder Introduces Bill Barring PG&E from Issuing Executive Bonuses

WASHINGTON –Today, Representative Josh Harder announced that he has introduced a new bill, the No Bonuses for Executives Act which would bar PG&E from issuing executive bonuses and instead, investing in the company’s rapidly aging infrastructure. PG&E CEO, Patricia Poppe, made $51.2 million last year including a bonus of $6.6 million. Other PG&E executives made a combined $15 million in the same year. This comes as Rep. Harder pushes PG&E to suspend its tiered pricing model which has led Central Valley families to owe $1,000 or more on their monthly electric bills.

“For seniors in our community or parents with little kids at home, air condition isn’t a luxury, it’s a necessity. PG&E paying their CEO $50 million a year while charging families $1,000 a more a month is just wrong. A 115 degree day should not turn into a $1,000 bill,” said Rep. Harder. “Today, I’m introducing the No Bonuses for Executives Act which will bar PG&E from issuing these out of control bonuses while Central Valley families struggle to keep their electricity on.”

Rep. Harder's No Bonuses for Executives Act would revive the corporate alternative minimum tax (AMT) 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 it continues to pay bonuses to its corporate officers and fails to meet a specific set of climate-resiliency mandates while engaging in public safety power shutoffs. The tax was originally established in 1986 and gradually weakened until it was completely eliminated in the 2017 Republican tax bill. Rep. Harder is taking the time necessary to ensure the bill only applies to PG&E executives and does not hurt the rank-and-file workers who are bearing the brunt of these blackouts and have become the targets of harassment.

Read the full text of the bill online here.

###