Amtrak Executive Bonus Disclosure Act

12/16/2024, 7:26 PM

Amtrak Executive Bonus Disclosure Act

This bill requires Amtrak to publicly disclose any performance-based bonus compensation paid to an Amtrak executive.

Specifically, at least 30 days before awarding performance-based bonus compensation to an Amtrak executive, Amtrak must brief Congress on (1) the proposed bonus, and (2) the criteria and metrics used to calculate the bonus.

Further, Amtrak must publish in the Federal Register (1) a notice of any bonus compensation awarded to an executive (within 30 days after awarding the bonus), and (2) the criteria and metrics used to calculate the bonus.

Bill 118 hr 8689, also known as the Amtrak Executive Bonus Disclosure Act, aims to increase transparency and accountability within the Amtrak organization by requiring the disclosure of executive bonuses. The bill was introduced in the House of Representatives and is currently under consideration by the Committee on Transportation and Infrastructure.

If passed, the bill would mandate that Amtrak publicly disclose any bonuses or incentive payments made to its executives. This information would need to be reported annually and made available to the public on the Amtrak website. The goal of this legislation is to ensure that taxpayers and stakeholders have access to information about how executive compensation is determined within the organization.

Supporters of the bill argue that increased transparency around executive bonuses will help to prevent misuse of taxpayer funds and hold Amtrak leadership accountable for their decisions. Critics, however, may raise concerns about the potential impact on Amtrak's ability to attract and retain top talent if executive compensation is made public. Overall, the Amtrak Executive Bonus Disclosure Act seeks to promote greater transparency and oversight within the organization, with the ultimate goal of ensuring that taxpayer dollars are being used responsibly.
Congress
118
Number
HR - 8689
Introduced on
2024-06-11
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

11/26/2024
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

Amtrak Executive Bonus Disclosure Act

This bill requires Amtrak to publicly disclose any performance-based bonus compensation paid to an Amtrak executive.

Specifically, at least 30 days before awarding performance-based bonus compensation to an Amtrak executive, Amtrak must brief Congress on (1) the proposed bonus, and (2) the criteria and metrics used to calculate the bonus.

Further, Amtrak must publish in the Federal Register (1) a notice of any bonus compensation awarded to an executive (within 30 days after awarding the bonus), and (2) the criteria and metrics used to calculate the bonus.

Bill 118 hr 8689, also known as the Amtrak Executive Bonus Disclosure Act, aims to increase transparency and accountability within the Amtrak organization by requiring the disclosure of executive bonuses. The bill was introduced in the House of Representatives and is currently under consideration by the Committee on Transportation and Infrastructure.

If passed, the bill would mandate that Amtrak publicly disclose any bonuses or incentive payments made to its executives. This information would need to be reported annually and made available to the public on the Amtrak website. The goal of this legislation is to ensure that taxpayers and stakeholders have access to information about how executive compensation is determined within the organization.

Supporters of the bill argue that increased transparency around executive bonuses will help to prevent misuse of taxpayer funds and hold Amtrak leadership accountable for their decisions. Critics, however, may raise concerns about the potential impact on Amtrak's ability to attract and retain top talent if executive compensation is made public. Overall, the Amtrak Executive Bonus Disclosure Act seeks to promote greater transparency and oversight within the organization, with the ultimate goal of ensuring that taxpayer dollars are being used responsibly.
Alternative Names
Official Title as IntroducedTo require Amtrak to publicly disclose certain bonus compensation paid to Amtrak executives, and for other purposes.
Policy Areas
Transportation and Public Works
Potential Impact
Congressional oversight•
Government employee pay, benefits, personnel management•
Government information and archives•
National Railroad Passenger Corporation (Amtrak)

Comments

APPROVED
SM
Sean McKenzie
@satsuma_green_pepper_purple_mangosteen46601
So, what's the deal with this new Amtrak thing? How will it impact me?
APPROVED
MK
Madilynn Kane
@chapati_vadouvan_litsea_cubeba70765
As a young woman from Idaho, I am saddened by the lack of transparency in executive compensation at Amtrak. It's disheartening to think about the disparity between the base pay and bonuses of certain executives while many Americans struggle to make e...
APPROVED
BW
Birdie Winstead
@chamomile_boldo_white_mustard48736
I don't like this bill, it's gonna mess with my money and stuff. Why they gotta do this to us? It's not fair, man.

Related

Committee:  Transportation and Infrastructure
Committee:  Commerce, Science, and Transportation

Recent Activity

Latest Summary12/4/2024

Amtrak Executive Bonus Disclosure Act

This bill requires Amtrak to publicly disclose any performance-based bonus compensation paid to an Amtrak executive.

Specifically, at least 30 days before awarding performance...

Latest Action12/10/2024
Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation.