Amtrak Executive Bonus Disclosure ActThis bill requires Amtrak to publicly disclose the annual base pay and bonus compensation paid to an Amtrak executive in a required annual report to Congress.Specifically, Amtrak must incorporate into the annual report the annual base pay and any bonus compensation paid to a member of the executive leadership team. This must include the criteria and metrics used to determine any bonus compensation.Further, Amtrak must make the annual report available on Amtrak's public website.
If enacted, HB192 will amend Title 49 of the United States Code, specifically section 24315(a), under which Amtrak is required to submit reports and audits. This amendment will require Amtrak to make their compensation reports available on their website, thus allowing for greater scrutiny by the public and stakeholders. The focus on executive pay transparency aligns with broader efforts in various sectors to hold organizations accountable for executive compensation practices, particularly those that involve public funding.
House Bill 192, known as the Amtrak Executive Bonus Disclosure Act, aims to enhance transparency regarding executive compensation at Amtrak. The bill mandates that Amtrak publicly disclose the base pay and bonus compensation of its executive leadership team, including the criteria used to determine any bonuses. This move is intended to provide the public and Congress with clear insights into how Amtrak compensates its top executives, thereby fostering accountability in how federal funds are managed by the railroad service.
The sentiment surrounding HB192 appears to be generally positive among advocates for transparency and accountability, who view the bill as a necessary step in ensuring that public agencies like Amtrak are responsible stewards of taxpayer resources. However, there may be some contention among those who believe that disclosing such information could undermine executive privacy or deter capable leadership from joining Amtrak due to public scrutiny.
Notable points of contention may include debates around the balance between transparency and privacy. Some lawmakers and stakeholders might argue that revealing detailed compensation structures could lead to unnecessary pressure on executives, thereby hindering the ability to attract and retain top talent. The discussions could also center on the efficacy of such measures in improving Amtrak's operational accountability and addressing ongoing operational challenges faced by the agency.
Transportation and Public Works